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Suppose you bought a bag of groceries at Food Lion this past September for $46.54. Calculate the price of a similar bag of groceries in 1999 prices if the CPI for food and beverages in September 1999 was 165.1 and for September 2009 it was 217.617.
In a closed economy without a government sector, consumption is determined as 80% of the income available to households. Investment is autonomous at a level of £450.
Write down the effect on the real wage and hours worked in the short run.
Use the firm's isoquant-isocost diagram and the firm's marginal cost curve to explain and illustrate the output and substitution effects of a decrease in the price of labor.
For this assignment you will write a 500- to 700-word memo evaluating two conflicting consultant reports. Your report should.
Given the data of real disposable income and real consumption, draw consumption function, determine the slope-What is the marginal propensity to consume?
Find out an article which is related to health economics from health journal. Some possible sources include Health Affairs
Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
Throughout this course we have discussed the 'agency problem' - i.e., when the interests of owners and managers are not properly aligned.
Suppose you are reviewing an isocost graph. The axis on the graph shows capital units on the vertical axis, and labor units on the horizontal axis.
The kinked-demand schedule that an oligopolist believes confronts the firm is given in the table below. Compute the oligopolist's total revenue at each of the nine prices
Agree or disagree and describe: In monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over long run.
Graphically illustrate the impact of an open-market purchase by the Federal Reserve on the equilibrium interest rate using the theory of liquidity preference and the market for real money balances. (Be sure to label:
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