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Markets are a very good way to organize economic activity in our economy. Why do we classify price floors and ceilings as a type of market failure and why does the government need to get involved in these types of markets?
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
Price elasticity of demand for two customer segments
.Most people are consumers, making demand decisions in product markets, and also workers, making supply decisions in resource markets. How do workers choose how much of their labor service they are willing to sell Is the quantity supplied likely t..
About the topic of national debt, it just likes we lent money from our offspring. Most of us think the debt is bad.
Consider two countries, A and B, that have identical physical endowments of a key natural resource. In country A, any profits that are made from extracting that resources are subject to confiscation by the goverment
Determine price and the level of service if competitive bidding results in a perfectly competitive price/output combination. Determine price and the level of service if the car lot grants a monopoly franchise.
How many units of labor should the firm use in order to produce 400 units of output at the least cost and the minimum cost of producing 800 units of output is what?
Write down the Lagrangean function associated with this problem and derive the first-order conditions for this problem.
What is average productivity? What is marginal productivity? Explain the relationship between average and marginal productivity. What would happen to average and marginal productivity if a technological innovation were introduced to the production..
Suppose that after depreciating the device for two years with SL method, the firm decides to switch to the double declining balance depreciation method for the remainder of the device's life (the remaining three years). What is the device's VB at ..
Which of the following would shift the aggregate demand curve to the right?
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