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Recent data show an increase in retail gasoline prices of 40% and reduction in consumption of 2%. Does this imply a change in demand or change in quantity demanded? Explain.
Elucidate how might this allocation under allocation get resolved via the means suggested by the coase theorem.
What is the EV(expected value) of option 2? If you are risk-averse, which option should you choose? Explain. Describe two factors discussed in class that lead to competitive imbalance within a sports league. Under what circumstances would an economis..
What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
A Bristish pharmaceutical company spent several years and considerable funds on the development of a treatment for HIV patients. Now,with the protection afforded by patent rights,the company has the potential to reap enormous gains.
Outline the differences between active and passive policy and explain how the two approaches differed in their assumptions about how well the economy works on its own.
Using the fundamental equations from the general monetary approach, describe how each of the following will affect the home and foreign price level, real money balances, and the exchange rate, EH/F . Also, state whether the home currency appreciates ..
In the classical theory, output is solely determined by the supply of labor (our demand for the product has no effect). In view of this factor the classical aggregate supply curve will have what shape?
Chronological order from earliest to latest:
Is SPC employing labour and domes in an optimal ratio, assuming that substitution of resources is possible. Elucidate. Conclude marginal income products for exterminators and for domes/pumps employed by SPC.
Compute market price, quantity of wheat produced, and the new equilibrium number of farms in this new situation.
Make two income statements, are utilizing the traditional accounting approach another using the opportunity cost approach to determine the profit.
Using the Fisher equation Illustrate what can you infer about expected inflation in Canada also in the United State.
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