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In the small town of Springfield, Duffman observes that the price of beer has fallen. Duffman concludes that the total amount of money spent buying beer has to fall since the price of beer is lower. Is he correct? Why or why not? Clearly explain your answer
How can the issue, perspective, concept or model enhance and enrich understanding of International Economics.
What are some examples of behavior that at one time wire victimless crimes that are no longer criminal.
Economists sometimes shock noneconomists by stating that they do not favor the complete elimination of pollution. Explain the rationale for this position.
Find out equilibrium cost and quantity. Illustrate on your graph how a rise in cost of automobiles would affect gasoline market.
Explain how many units of housing would the government have to increase the provider of housing in order to get the market equilibrium rental cost.
Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 30. Explain how would you describe this industry.
what is the payoff in the first period for Firm 2 if. instead of cooperating, it maximizes its single period profits? Will Firm 2 choose to cooperate in the repeated Cournot game?
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
Suppose the two doctors play a one-shot game-which is, they interact only once also never Once more.
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
Elucidate how much labor should the firm employ. What is the resulting output and profit.
Suppose that the government increases taxes by $150 billion. Suppose that the MPC is .80 and that there is no crowding out effect. Which is the effect of this change in Yd, in C and aggregate demand?
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