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Suppose one economist believes the target rate of unemployment is 4.3 percent while another believes it is 5.5 percent. Using Okun's rule of thumb, by how much would you expect their estimates of potential GDP to differ in a $12 trillion economy?
What impact, if any, will this have the firm's AFC (average fixed cost), AVC (average variable cost), ATC (average total cost) and MC (marginal cost) and therefore these cost curves? Why?
Draw indifference curves to represent the following types of consumer preferences-I like peanut butter, but neither like nor dislike jelly.
Assume that the following table describes prices, incomes, and every person lobster consumption in three U.S. cities.
Suppose that deterioration in the education level of the U.S. population reduces the marginal product of labor.
In addition to the shock to the money multiplier as in Question 15, we experience two more shocks that influence the money demand curve: The new, money demand curve is now equal to: Md = 1 X [ 2900 + .5 (5400) - 200 (i)] Explain why we would ex..
Explain the antitrust laws in the US stricter also more comprehensive compared to those of other industrialized country.
Consider a Bertrand oligopoly consisting of four firms that produce an identical product at a marginal cost of $260. The inverse market demand for this product is P = 800 - 4Q. a. Determine the equilibrium level of output in the market. b. Determin..
Explain the trade-offs between any three of these options. In other words, what will you gain, and what will you have to give up if you choose each of the three options?
If twelve units of a good are sold when the price is $1 per unit, and eight units are sold at a value of $1.50 per unit,
Illustrate why is strategic interdependence important for the market structure of oligopolies. What happens in the market for oranges if there is a hurricane that destroys the orange crop.
what level of output should be produced in each market and what price will prevail in each market? What are total profits in this situation? How would your answer change it it only cost demanders $5 to mail books between the two markets? What would..
Use Excel program to estimate of the state's demand for KBC microbrews in Ohio. Print (past) the computer regression output and provide an economic interpretation of the regression results.
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