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When the Federal Republic of Germany (West Germany) absorbed the German Democratic Republic (East Germany) in 1990, residents of East Germany had accumulated large amounts of savings. Papers in the United States explored why East Germans saved so much. The indications were that time, rather than money, was the constraining factor in most consumption. Constant shortages and inefficiencies in providing goods forced the East Germans to wait in long lines in order to purchase most goods. Time spent waiting for meat was unavailable to use to wait for milk, bread or televisions. Draw 2 constraints on one indifference graph, one for money and one for time, with waiting in line the "price" of a good in terms of time. How does this show that residents of East Germany would save lots of their income?
firm's marginal cost curve crosses marginal revenue curve at an output level of 1,000 units. Illustrate what is firm's current profit. Illustrate what is likely to occur in this market and why.
Illustrate what is the next best thing to sliced bread in your product or is your product the next best thing.
limit popular influence without destroying popular sovereignty. Illustrate why the framers wanted to achieve each of these objectives and how the Constitution does so.
q1. discuss about the effects of the economic crisis of 1997 on the korean society and business.q2. explicate explain
Suppose the banking market in Richmond area consists of five banks that each has 15 percent of the market and five more banks that each has 5 percent of the market. Calculate the measure of monopoly power.
Elucidate how Coldwell Banker can produce the same output at a lower total cost
q.the average wage in a particular country assumedly is 35752. assume a researcher selected a simple random sample of
Assuming that wheat and barley both sell for $1, and income is $20, compute the price elasticity, cross price elasticity and income elasticity for wheat."
1. if you are the chief economist of a country experiencing high unemployment and flat gdp what macroeconomic policies
Project B will yield $1.25 million three years from now, and Project C will yield $600,000 for two years, beginning two years from now. If the interest rate is 8 percent, which of these projects should the firm undertake?
q.the news reports which the exchange rate for the dollar just hit its lowest value in a decade it also reports which
How does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil? Explain, using economic terms, why this is so.
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