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What is the relationship between the law of diminishing marginal benefits and the law of demand? Explain the law of suply and the firms marginal cost structure? In your analysis please explain the concepts of changes in price and its impact on changes in quantity demanded/% change in price.
Solve for the new equilibrium. Illustrate what happens to the price received by sellers, the price paid by buyers, and the quantity sold.
Per capita GDP in the long run: Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in response to each of the following changes?
If the college charges all students the same tuition, illustrate what tuition can it charge to cover all of its costs.
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
The law of comparative advantage recommends that countries specialize in those products in which they have a comparative advantage, not an absolute advantage.
Find the equation of the dominant firm's derived-demand function
To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out ..
What is the natural rate of unemployment? Why might θ increase in this way? What will the inflation rate be in years t+5, t+6, and t+7.
When the Federal Reserve decreases the discount rate, monetarists and Keynesians would agree on which of the following changes to the money supply and interest rates.
"As vice president of sales for a rapidly growing company, you are grappling with the question of expanding the size of your direct sales force (from its current level of 60 national salespeople). You are considering hiring from 5 to 10 additional..
Assume that the following data describe the condition of the banking system: By how much could the banks increase their lending activity?
In the economy of Qonos in 2102 investment was $1,611, GDP was $5,829, government spending was $1,521 and consumption was $1,694. What was Qonos's net exports in 2102?
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