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1. Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Market demand is Q = 600,000 - 100p. Derive the short-run equilibrium Q, q, and p. Does the typical firm earn a short- run profit?
Briefly describe the five models of behavior presented in this chapter. What are the implications of these models for managers attempting to influence their employees' behavior?
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is important to have the right mix of policies and that al..
Make some research on a topic known to economists as 'friction-free' or 'low-friction' economy. Early writers on this topic foresaw many of the seismic shifts that have occurred in the market place over last one to 2-decades.
Use the following information of a company's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules.
This causes some loss in utility. What is the equilibrium of this game? Do you think the two drivers will necessarily produce an equilibrium outcome?
Identify at least four policies from the textbook that the government has created to impact economic growth and productivity.
A company is planning two business projects. Project A will return a loss of $45 if conditions are poor; a profit of $35 if conditions are good; and a profit of $155 if conditions are excellent.
1. In reading "Rewarding Work: How to Restore Participating and Self-Support to Free Enterprise" a plan to help the working poor speaks about different options. What are some market incentives that includes one of the ten principles of economics t..
Is the Eurozone an optimal currency area? Explain your answer.
1.A firm will always prefer to make more profit rather than less. Do you agree with this statement?
1.Imagine that you won millions of pounds on the National Lottery. Would your economic problem be solved?
Suppose a 6-month put option on a stock with a strike price of $32. The current stock value is $30 and over the next six months it is expected to rise to $36 or fall to $27.
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