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Describe how companies use economic forecast to make economical decisions and how companies make important decision with so much economical unrest.
After the firm's patent expires, predict the new market output and price. Assume that competing suppliers have the same economic costs as the original producer. Calculate the resulting change in consumer surplus.
Differentiate at least two different eighteen month forecasts for Gross Domestic Product (US) and graph them. Include a reconciliation of differences between forecasts for GDP and a rationalization for which forecast you believe is most accurate.
Research the elasticity of beef and eggs in regards to price changes. Explain how do supply, demand, and price controls interact to affect equilibrium price of eggs
Illustrate what fiscal policies are needed to fight unemployment
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
During 2003 the value of oil increased, which in turn caused the price of natural gas to increase. This can best be explained by saying that oil and natural gas are:
The solution mentions the OPEC Oil Cartel, the company's stated goals, the member-countries, and when it was founded. Their role in keeping oil prices high, and the difficulties they faced in keeping the cartel united.
Assume the Fed's Beige Book reported that in South Florida, bookings for the summer tourist season were off to a slower start than last year
Compute point price elasticity of demand for this product.
The inverse market demand curve is P=140-Q, and inverse supply curve is P=20+Q. Suppose that the market is competitive,
Suppose an economy with constant state unemployment. the separation rate is 2.5 percent per month and the finding rate is 47.5 percent per month.
Suppose a product sold in a competitive market is subject to a government price control. Suppose the regulated price is less than the free market equilibrium price.
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