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For each of the following pairs of items, draw an indifference curve map and then say if they are perfect substitutes, imperfect substitutes, or perfect complements.
a) Cell phones; cell phone chargers.
b) NY state apples; Washington state apples.
c) milk; morning cereal.
Suppose there is a $200 billion recessionary gap. If there are no taxes or imports to restore the economy back to potential GDP how much should government expenditure be changed if the marginal propensity to consume is 0.75? Does government expenditu..
Explain what action should be taken in terms of adjusting output if it is determined that marginal cost is greater than marginal revenue.
q.consider a market with demand q 10 - p. currently there is an incumbent in the market with capacity k. there is a
In July of 2012, Taylor purchased 1,700 shares of XYZ common stock for $75,000. He then sold 1,000 shares of XYZ in July of 2013 for $37 per share. The remaining 700 shares were finally sold for $75.71 per share in July 2014.
The manager of a supermarket lowers the price of its 24-pack bottled water from $4.60 to $3.40 and as a result, sales of bottled water increases from 400-600 packs. What is the arc price elasticity of demand for bottled water? What are some of the ap..
When the price of bananas is 50 cents a pound, the total demand is 100 pounds. If the price elasticity of demand for bananas is −2, what quantity would be demanded if the price rose to 55 cents a pound?
An effective Federal Reserve operating target is a target that is reliably linked to
Assumes the perfectly competitive firm is in long-run equilibrium also there is an rise in Demand
Suppose K = 1,000; L = 200 workers; and M = value of all materials use at 450. Derive the total product or output. Find the Marginal products of capital, labor, and materials (individually).
Ossify each of the following businesses by their characteristics. For parts a. through d., write Pure Competition, Pure Monopoly, Monopolistic Competition or Oligopoly. Answer the questions in parts e. through h. Rick owns a Greek restaurant in a s..
Elucidate how a recessionary output gap would emerge in an economy where long-run aggregate supply curve is persistently shifting to right.
q1. if the production possibilities frontiers shown are each for one day of manufacture subsequently which of the
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