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Frances sells earrings in the perfectly competitive earring market. Her output per day and costs are as follows:OUTPUT PER DAY TOTAL COST0 11 2.52 3.53 4.24 4.55 5.26 6.87 8.78 10.79 13a) If the current equilibrium price in the earring market is $1.8, how many earrings will Frances produce, what price will she charge, and how much profit (or loss) will she make?
b) Suppose the equilibrium price of earrings falls to $1. Now how many earrings will Frances produce, what price will she charge, and how much profit (or loss) will she make? Show your work.
c) Suppose the equilibrium price of earrings falls to $0.25. Now how many earrings will Frances produce, what price will she charge, and how much profit (or loss) will she make?
In 2005, then Federal Reserve Governor Ben Bernanke, now Federal Reserve chairman, said in a speech: "Over the past decade a combination of diverse forces has created a significant increase in the global supply of saving - a global saving glut.
Suppose that the inflation rate in the United State and japan are 4 percent and 2 percent, respectively and that the current spot rate is $.0083333 per Japanese yen or 120 Japanesse yen per one percent dollar.
The large trade deficit that the U.S. has with China persists in part because: the U.S. economy has grown slowly in recent years. China has fixed its exchange rate and not allowed the yuan to appreciate relative to the U.S. dollar.
Determine the quota induced price increase and the resulting decrease in consumer surplus and what is the overall welfare loss to Venezuela as a result of the quota?
What do these numbers tell you about the phase of the business cycle in the United States, Euro area, and Japan in 2008 What do these numbers tell us about the relative size of the natural unemployment rates in the United States, the Euro Area, an..
In 2008, the per capita consumption of coffee in the United States was reported to be 4.2 kg, or 9.24 pounds. Assume that the per capita consumption of coffee in the United States is approxi- mately distributed as a normal random variable
"Capital Investments" Please respond to the following: With the current U.S. economy in a weakened state, many companies are reluctant to implement any capital improvements or capital expenditures in fear of the economic uncertainty.
Give your opinion, observation, or recommendation on this company? For example what types of strategy's do they use, do the use them correctly, what are their shortfalls, how do they relate to other in the industry?
Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part and identify the factor that benefits from trade in real terms
Consider two Countries that share the same technology, South Africa and the UK, and two goods, Diamonds and Tea
Petroleum products are in limited supply, what do you recommend the United States government should do to prepare for a shortage of gasoline? Describe your answer.
1) Define the current state of our economic health in the United States. You should include statistics (inflation, unemployment, and GDP) to confirm the direction. 2) Explain who is in charge (and who assists) with the stabilization of the economy ..
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