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(Table: Demand Schedule for Gadgets) Look at the table Demand Schedule for Gadgets. The market for gadgets is dominated by two producers, Margaret and Ray. Each firm can produce gadgets at a marginal cost of $2. The table shows the market demand schedule for gadgets. Suppose that these two producers have formed a cartel and are maximizing total industry profits. If Margaret decides to cheat on the agreement and sell 100 more gadgets, how many gadgets will Margaret sell?
Which banking service provides easy access to money, monthly statements, easier bill payment,or more security than carrying cash.
How does the strength of other economies outside of the U.S. affect your organization?
The economy of a country called Econoland is described by the following desired aggregate expenditure components (all figures in billions of $). For the purposes of this question, the first set of equations will be referred to as fiscal policy1.
A country which does not tax cigarettes is considering the introduction of a $0.40 per pack tax. The economic advisors to the country estimate the supply and demand curves for cigarettes as:
For few months, prior to your vacation trip to France, you find that the exchange rate for your U.S. dollar has increased relative to the Euro. If you were a U.S. citizen or resident, are you pleased? Explain.
Explain why do economists attempting to forecast short run future changes in real GDP and employment look closely at data on business inventories and unfilled orders.
The table below contains data from the Bureau of Economic Analysis (BEA) on real GDP in the United States for 1980 to 1984. During this period, the United States experienced economic fluctuations (one recession and periods of economic growth).
A program of tax hike, distributed uniformly across the households earning over $300K annually filing tax returns, amounting to $85 billion in total tax hikes - Draw an AS/AD diagram illustrating your answer to part (B) That is, draw an AS/AD diag..
Is it true that rich people hold more money than poor people do Do rich people hold a higher percent of their income as money than poor people Compared to an income tax, does an inflation tax place a greater or lesser burden on the poor
Why does a government place price ceilings, such as rent control, on some "essential" goods. to encourage an increase in supply of necessary items, to limit the impact of equilibrium pricing or else.
explain how the us government managed to accumulate a debt of over 14 trillion. to whom does it owe this debt? is the
In order to reduce farm output, raise farm prices, and thus raise farm incomes (revenues), the government pays farmers to set aside a portion of their land from production. Using a graph, explain in terms of the elasticity of demand for farm produ..
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