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Short-run and long-run with Philip Curve
Provide a theoretical and graphical explanation of the Philip Curve. Distinguish between short-run and long-run and consider the role of expectations and credibility and the natural rate of unemployment.
Assume the airline industry consisted of only 2 firms: American and Texas Air Corp. Let the two firms have identical cost functions, C(q) = 40q. Suppose the demand curve for industry is given by P = 100 - Q and that each firm expects the other to ..
You are the manager of a small U.S. firm that sells nails in a competitive U.S. market (the nails you sell are a standardized commodity; stores view your mails as identical to those available from hundreds of other firms).
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
What is the total amount of US government debt as of the time you look it up?
What is the profit-maximizing price to charge a Texan for a car wash? What is the profit-maximizing price to charge a Californian for a car wash?
Illustrate the difference among the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution.
You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.
In a few weeks Professor Smith will be taking his daughter Attilla to the State Fair. Calculate the Marginal Rate of Substitution (MRS).
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
Explain how have these people changed monetary strategy, fiscal policy also laws that govern businesses since the collapse of the economy.
Assume as a professional economist debate about the wisdom of pursuing discretionary fiscal policy.
Rover plus, a pet product store, is considering pricing a new RoverPlus labeled dog food. The company will buy the premium dog food from a company in Indiana that packs the product with a Rover Plus label.
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