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For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example. How are the paired concepts similar? How are they different?
a) Riparian vs. prior appropriation water rights.
b) Optimal instream flow vs. optimal reserve site selection.
What is the profit-maximizing price-output combination and what are the levels of the profits and consumer surplus at that point? What is Dead-weight-loss?
Finding the short run and long run profit maximizing price - quantity and number of firms in industry.
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
Find the velocity given that the market is in equilibrium. MD1 is the relevant curve and it is given that the real GDP is 30,000.
Agree or disagree and describe: In monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over long run.
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Human service interactions in terms of macro systems-communities and organizations. Empowerment is basically a process to assist people groups, families and communities, individuals, to use their strengths to overcome their challenges.
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
What is the value of the money multiplier? What is the value of the nomial money supply? What are the nominal values of deposits, currency and reserves?
Graph the accompanying demand data, and then use the midpoint formula for E d to determine price elasticity of demand for each of the four possible $1 price changes.
What is the amount of loans from rest of the world? What is the current account balance? What is capital account balance?
Describe the effects of monetary policies on the economy's production and employment.
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