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What is a specific, "real-life" example of a seller in the world today that meets the definition of a price taker? Your posting should be at least two paragraphs long and specifically identify the undifferentiated product (remember - no brand names here!) that is sold by the type of producer that you are describing.
Assume that equilibrium GDP is $14 trillion & that potential real GDP is $16 trillion. Also assume that C = 900 + 0.8YD where C is consumption & YD is disposable income. How much should the government should cut taxes to move the economy to potential..
After a month, the store clerk informs you that the same crate of wine now costs $82. However, there are 7 bottles in a crate. To the nearest cent, determine the average cost of the crate from last month to now.
What is the equilibrium price for lawn mowers? What is the equilibrium quantity of lawn mowers? What is the value of the maximum gains from trade? What is the value of consumer surplus if a price ceiling of $40 is put in place?
If you want to have $301,301 in 19 years, how much money should you put in a savings account today? Assume that the savings account pays you 6.99 percent, compounded monthly. Cooling Tools, Inc. is currently producing 671 of small refrigerators per m..
During the period 1973-1975, the United States experienced a deep recession with a simultaneous sharp rise in the price level. Would you conclude that the recession was the result of a supply shock or a demand shock? Illustrate, using AD-AS analysis.
Which of the following is a characteristic of economies of scale?
The real exchange rate approach to exchange rate determination is based on: q$/€ = R$/€ × PEU PUS or R$/€ = q$/€ × PUS PEU a) Given PUS = 115, PEU = 105, and R$/€ = $1.35 per euro, compute the real exchange rate. write an equation to show a formula f..
How would social class differences influence product lines and styles, advertising media selection, and the copy and communication style used in ads and payment methods.
Consider and economy with two consumers, Jeff and Jay, and producing two goods, wine and cheese. Illustrate using an Edge worth Box diagram and a production possibilities frontier together, both efficiency in exchange and efficiency in production. Id..
Assume that SHELL, Corp. Coupon bond currently sells for $5,800. Bond has a 5 year maturity, an annual coupon payment of $261, and a future value of $5,800. What is the promised yield to maturity on SHELL bond? Calculate the promised YTM on the SHELL..
Juan Garza invested $114,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an approximate answer but calculate your final answer using the formula and financial calculator methods.
What is a characteristic line? How is this line used to estimate a stock's beta coefficient? Write out and explain the formula that relates total risk, market risk, and diversifiable risk.
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