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To introduce GNP and GDP, and other concepts of the National Income accounts, and to show how they help us understand the growth of the U.S. economy over the past century.
Analyze the effect of both a bad weather and the rumors od a deadly disease in the consumption of rice?
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. Illustrate what evidence of excess supply or excess demand can you cite in these examples.
Describe the changes in price and quantity moving from one equilibrium to another. Be sure to identify what increases, what decreases, or what may do either.
An entrepreneur took a one-month leave of absence. Elucidate how many units did she have to sell To facilitate turn a profit
A seafood restaurant in a beach resort town has a fixed (unavoidable) cost of $1,000 per month and variable (avoidable) costs of another $1,000 per month.
explain and categorize the cost of inflation. Because of inflation has risen, the L.L Bean Company decides to issue a new catalog quarterly rather than annually.
Illustrate what is relative PPP. Compute the current pound spot rate in dollar which would have been forecast by PPP.
botco, inc. is constructing remote-controlled cars to sell to hobbyists. After doing some analysis, botco's chief economist reported that, at the current level of output per month, the marginal benefit for making remote-controlled cars exceeds the ma..
Convert the production function into its normal form. Illustrate what is the MRTS, if price of labour is $120 and the price of capital is $200?
What do you think will happen to the price and quantity of DVDplayers. What is the difference between economies of scale and economies of scope? Provide examples for each of them (one example for each of them will be sufficient)?
Find the equilibrium price and quantity after the shift of the demand curve.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
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