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Suppose that the Japanese yen rises against the U.S. dollar-that is, it will take more dollars to buy a given amount of Japanese yen. Explain why this increase simultaneously increases the real price of Japanese cars for U.S. consumers and lowers the real price of U.S. automobiles for Japanese consumers. 6.The price of long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per minute in 1999, a 45-percent (18 cents/40 cents) decrease. The Consumer Price Index increased by 10 percent over this period. What happened to the real price of telephone service?
Do price reductions always result in higher profits? For example, If the demand for a firm's product is price inelastic, will the firm increase its profits by cutting its prices? Explain.
Consider two countries, A and B, that have identical physical endowments of a key natural resource. In country A, any profits that are made from extracting that resources are subject to confiscation by the goverment
Compute the cash flow for the 20 years for the cogeneration system as an increment relative to the avoided cost of utility electricity and natural gas
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
What business will you go into, and what will comprise your fixed and variable costs? How could your business take advantage of economies of scale?
There are many more sole proprietorhips than corporations or partnerships. Why are there so many sole proprietorships Why is the revenue of the average sole proprietorship less than that of the typical corporation
What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
Advertising can inform buyers, but sellers must incur costs to advertise. If so, advertising can result in higher prices to consumers. Does this mean advertising is economically inefficient If so explain how it can simultaneously create value and ..
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
What is the nominal exchange rate in 2013? What is the expected nominal exchange rate for next year? Which currency will appreciate? What is the real exchange rate in 2013? What is the economic meaning of the real exchange rate?
1. There are only two polluting sources in the region, each of which generates 10 units of pollution for a total of 20 units released into the environment. The government determines that emissions must be reduced by 10 units across the region to achi..
It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost of building the road
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