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Suppose the price of apples goes up from $20 to $24 a box. In direct response, Goldsboro Farms supplies 1,400 boxes of apples instead of 1,200 boxes. Compute the coefficient of price elasticity (midpoints approach) for Goldsboro’s supply.
Three independent projects are available for a secret government agency. The estimated costs associated with each alternative are given below. Use the conventional B-C ratio method to determine which alternative(s), if any, should be selected at an i..
while average labor productivity increases at the same rate as it did during 1960-2009. Under this scenario, what would be the net change in real GDP per person between 2009 and 2058?
Which of the following is a key element of the Cournot model?
By choosing to right of mid point but to left of republican agenda democrats would get more than half of votes and win What happens if democrats have a fairly socialist party agenda and locate to left of midpoint.
Determine the conditions that may exist for a manager of this good or service may decide to move forward with operations even with the initial costs of operations is more than the potential revenue.
List the advantages and disadvantages for the United States to protect its catfish industry. List the protective measures (instruments) the United States has not used to protect its catfish industry. Briefly explain why each would or would not be suc..
A change in input prices shifts the isoquant map. Convex isoquants mean that the marginal rate of technical substitution decreases as the firm substitutes labor for capital. A change in cost shifts the isocost curve.
Find the equilibrium level of real GDP. What is the multiplier in this model? Assume investment increases by $10,000, what is the new equilibrium? Use a "Keynesian Cross" (45 degree line) graph to show the equilibrium level of real GDP in parts ‘a’ a..
Suppose that you buy, and one year later sell, a foreign (British) bond under the following circumstances
Explain the difference between absolute and comparative advantage. Explain the law of increasing (opportunity cost). What causes cause to increase? What factors or events could cause an inward shift of the production possibilities curve?
illstrate the effect of capital formation by comparing the prodution pissibility curves, at the present time and ten years in the future,for tow economies, one with the high and the other with the olw rate of capital formation.
Consider a duopoly game in which two firms simultaneously and independently select prices. Assume that prices cannot be negative. Let p1 denote the price set by firm 1 and p2 let the price set by firm 2. Unlike Bertrand competition (see Chapter 10), ..
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