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Draw an aggregate production function with typical shape and label it "F". Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios.
a. Efficient institutions are adopted in a country. Label this production function F2.
b. A new technology is adopted allowing greater productivity. Label this production function F3. How are these two changes different?
If the government imposes a $1 per-unit tax, how do the marginal, average total, and average variable costs change? What if instead the government imposes a $100 per-firm tax?
Calculate the arc price elasticity implied by the initial response to Z-Best's price increase and calculate the effective price reduction resulting from the coupon promotion.
Discuss how to use Coase theory to see mandated mercury emissions and what do you think Coase would say to a supporter of free market environmentalism.
If your child is born today, how much will you need to put away per year, at end of each year through your child's 18th birthday, so that no additional payments need to be made after year 18
Calculate Kalvin's expected haul over the four event crime spree and calculate the probability that Kalvin will never get caught over the four days.
Complete the constraints for a 2-year crop rotation between oats and barley in the homestead paddock and complete the constraint for turnip and millet production in the South Hill paddock
Is the federal funds rate currently too high or too low, Suppose that a year has gone by, output is now just 1 percent above potential, and the inflation rate was 1.5 percent over the year. What federal funds rate should the Fed now set (assuming tha..
you must identify a franchise that is relatively new (less than 10 years old and fewer than 25 locations in Canada). You must then evaluate the attractiveness of the franchise for an identified location. The evaluation should include: Presentation ..
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
Quantities purchased are the same but prices are not. What does this mean in terms of the marginal rate of substitution at those quantities?
Employees at Foxconn factories described in the e-Activity worked more hours than allowed under Chinese labor laws. Yet the violation of these standards is widespread in manufacturing and the demanding treatment of workers is commonly accepted. Co..
Assume the economy is at short-run equilibrium and is in a slump. Ceteris paribus, what would you expect to happen to the money supply over time? Discuss in detail the money creation process in a fractional-reserve banking system.
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