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Please describe the actions of the economic actors in the economic circular flow diagram and the physical and monetary transactions that occur in each market of circular flow diagram. What is the circular flow diagram describing?
Please explain the three different, but equivalent, ways that this diagram describes GDP.
Occasionally economist use GDP as a measure of a nation's economic strength. What is a better measure of a nation's economic strength?
If instead the Fed wants to stabilize aggregate demand, how should it change the money supply..
Explicidate that a profit-maximizing bundle will typically not exist for a technology that exhibits increasing returns to scale as long as there is some point that yields a positive profit.
Illustrate what is standard inconsistent cost. Illustrate what is the marginal cost.
The constant price elasticity of demand for cigarettes has been estimated to be -0.5. To reduce smoking by 50%, approximately how much tax needs to be added to a $1 pack?
Assume that the resource and output markets are both competitive, and that it is possible to hire fractional units of the resource. Explain how many units of the resource will a profit-maximizing firm hire.
Lisa is a self-employed physical therapist who works from a rented space. Lisa charges $250 for a therapy session. She incurred the following costs last month: space and equipment rental, $1400; wages, $3500; materials, $1800. If Lisa’s profit last m..
Assume which a industry has "pricing power" also can segregate its marketplace into two distinct groups based on differences in elasticities of demand.
q1. elucidate the impact of each of the following upon chartered bank reserves1 the bank of canada sells government
Machine A has a service life of 4 years and Machine B has a service life of 3 years. If the required service period is 6 years and either machine can be repurchased in the future for the same price, what is your analysis period?. If the required serv..
State whether the following firms are experiencing economies of scale or diseconomies of scale.
Compute new supply of $ at each exchange rate and graph the new supply curve.
Calculate the loss of economic welfare caused by the monopolistic . If some of this lost welfare would have been producer surplus, why is the monopolist willing to forgot this surplus?
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