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Given the economic situation today, outline the discretionary fiscal policy you would promote if you were president. In terms of the AD-AS model.
Explain how your policies would affect the economy.
What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?
If "excess profits" are taxed away, where will oil companies get the money to fund new exploration and development of oil properties? Does it matter if these price increases are demand or supply induced?
The demand for the firms services has been increasing as more consumers use the service for convenience and due to higher parking rates and gasoline prices, wage rates for drivers increase cost for the firm. Describe the supply and demand shifts t..
Determine the relationship between and returns to scale and obtain the long-run input demand functions and the total cost function.
Marginal benefit and marginal cost functions and explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
When negative or positive externalities exist economists say that market has unsuccessful to make the right amount of the good at the right price. What do economists mean through this?
Assume the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The firm has a marginal and average total cost of $50per unit.
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?
Using the AD-AS model, if consumers and business become more optimistic about the future direction of the economy and increase spending, then: aggregate demand will decrease, aggregate demand will increase.
The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped?
State the commodity in which each country has absolute advantage amd identify the commodity of comparative advantage for each country
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