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Edgeworth Box problem
Suppose that two individuals have the same tastes and the same initial endowments. What can you say about the efficiency of the allocation which corresponds to the initial endowment? By way of explanation, illustrate using an Edgeworth box to show what is going on.
Use aggregate demand (AD) and aggregate supply (AS) model in which the short run aggregate supply curve slopes upwards to describe the equilibrium level of real GDP and prices if the economy is operating:
What is value added in every sector also what is total output for the economy.
15 page term paper on International Business from economic view point. The topic is effect of corruption on Chinese and Indian economy and how India's IT sector (or could be any other sector in which compared to China the corruption is less) is ab..
Explain how each of the following scenarios would cause the aggregate demand, short-run aggregate supply, and/or long-run aggregate supply.
Compute the marginal cost and marginal revenue of each unit of output and enter these figures in the table.
Fiscal policy refers to the use of government expenditures or tax policy to influence the aggregate demand for a specific purpose.
The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours Per week (Q T ) supplied to the market.
Describe the current status of Real GDP and unemployment rate and inflation rate.
Explain how would either decision change if the government imposed a 20 percent tax on earnings and interest income. Illustrate what would happen if the government exempted interest income.
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
The firm is considering a movement of the plant to Shenzen, China where labour is cheaper. The same mathematical relationship between inputs and outputs will hold.
What is the firm's average variable cost as a function of its output level, y? What is the firm's average total cost as a function of its output level, y? What is the firm's profit maximizing level of output, and what is the resulting profit?
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