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Consider a region with 2 export products (saxophones and soccer balls) and 2 local goods (haircuts and music concerts). The production of each export good is subject to localization economies, so each city specializes in one export good. According to the urban economist Grace Slick ibis my two assumptions (one for export products and one for local goods) are correct, all the cities in the regions will be the same size?. Assume that Slickers logic is correct. List her assumptions and explain why together they imply the regions cities will have the same size.
the kinked-demand schedule that an oligopolist believes confronts the firm is given in the table below. compute the
A grocery store notices that the cross-price elasticity between ice cream and chocolate syrup is -.3. The store is advertising a sale with ice cream prices reduced by 20%. By how much should they expect chocolate syrup sales to increase?
Express output per worker (y=Y/L) as a function of capital per worker and the natural rate of unemployment and write an equation that describes the steady state of this economy.
Currently, the economy is in equilibrium at Q = 3200 (where Q = potential GDP) and P = 100. You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run.
Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.
What is property according to Chris Hann and why are property rights the foundation of hunter/gatherer societies as argued by Barnard and Woodburn What is the significance of sharing among immediate-return foraging societies.
What does price, average revenue and marginal revenue have in common and Firms can operate in one or more markets and not always on the same side of the market. General Motors is a buyer in the resource market and a seller in the automotive market.
Businesses often decide between using automation and labor in production. An automotive environment may have high fixed costs and low variable costs.
The following income and cross price elasticities of demand were calculated for various goods. Classify if each good as superior, inferior, normal, substitudes or compliments. Explain and show your work to get full credit.
The President of US is suggesting increased spending for a missile defense system and also proposing a major long term tax cut. Provide some predictions of possible outcomes for the federal budget categories,
Unities of Guns 0,12,26,36,44. Unities of Washers 4,3,2,1,0. What is the marginal opportunity cost of producing the second unit of washers? What is the total opportunity cost of producing the second unit of washers?
you are starting your own internet business.nbspyou decide to form a company that will sell cookbooks online.
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