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What did classical economists assume about the flexibility of prices, wages, and interest rates? What did this assumption imply about the self-correcting tendencies in an economy in recession? What disagreements did Keynes have with classical economists?
Draw the market Demand and Supply curves (on the same graph) for Ford and what is the market equilibrium price and quantity explain what you will observe in the market if the Ford car price is set at a higher than equilibrium price.
Identify the extent of safety issues in Canadian hospital care. Describe strategies that might be put in place to improve safety?
Show how to generate a supply and demand function from a information table that includes the supply and demand information for two different price levels.
Pass laws prohibiting children from working in labor market X. Require a license to work in labor market X. Increase tariffs on imports that compete with labor market X employers.
The CEO of Always Round Tire has decided to open a battery division. He thinks that batteries would sell well with tires at their outlets AND that Always Round's quality reputation will be transferred to the batteries. Should he set up the new div..
Suppose that in the hypothetical country of Vanadia, picture frames are distributed based on government policy. This system of distributing goods gives the residents of Vanadia an incentive to spend timea) earning money b) lobbying government officia..
Select a product or service you use on a regular basis and discuss how the price you pay for that product or service is the result of a market economy. Discuss how the determination of the price for that same product or service would be set in a c..
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
Someone claims that under efficiency wage models "if the wage rate increases in a market with heterogeneous workers then we will have a shift in the labor demand curve, and not a movement along the c..
Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..
Professor Michael Porters generic strategy options for competing are the differentiation approach and cost leadership approach. The first involves competing by having the better product and second by having lower cost that ones competitors. Relate..
Discuss Khalid's proposed business in terms of a competitive market and in terms of a monopolistic competitive market. Which type of market structure might he hope develops? Why? Does that development depend on him? Explain.
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