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Draw a short-run aggregate supply curve that gets steeper as real GDP rises.
a. Explain why the curve has this shape.
b. Now draw a long-run aggregate supply curve that intersects a short-run AS curve. What is the relationship between short-run AS and long-run AS?
Calculate the total costs of pollution reduction associated with each policy. Compare the total costs and amount of pollution reduction to the efficient amount you found in part (a). Do any of these policies create a deadweight loss?
Determine the long-run effects of this on the quantity of capital per worker and output per worker?(b) In the short run, does aggregate output grow at a rate higher or lower than the growth rate of the labor force?(c) After World War II, growth in r..
You are the owner of a local honda dealership. Unlike other dealerships in the area, you take pride in your "no haggle" sales policy. Last year, your dealership earned record profits of $1.5 million.
Defenders of Wildlife. Each of the 80,000 citizens in a particular county is willing to pay $0.10 to increase the number of wolf litters by one. Each litter of wolves imposes a cost of $5,000 in livestock losses to ranchers.
We wish to ensure, at the lowest possible cost, that at least one driver is on duty for each hour of the planning period (9 A.M. to 5 P.M.). Formulate and solve this scheduling problem as a shortest path problem.
Discuss the adjustment process of the economy, and using Figure 3-5 , show what happens to growth in the short run and in the long run.
Estimate the preceding regression. What is the interpretation of the various coefficients? Give a logical reason for why the results are this way
Draw the total product, average product, and marginal product of labor curves (you will probably want to use two diagrams) for this production
The MacBurger Company, a chain of fast food restaurants, expects to earn $200 million after taxes for the current year. The company has a policy of paying out half of its net after tax income to the holders of the company's 100 million shares of c..
You may select more than one condition. You will receive credit for each correct condition. You will lose marks for selecting an incorrect condition.
What is CEO Toback's most pressing concern and how could he go about addressing this concern?2. Do you agree or disagree with the assessment of the concern and the plan to address this concern? Why or why not?
Based on the information in the Botox application, what would happen to the equilibrium price and quantity if the government had collected a specific tax of $75 per vial of Botox? What welfare effects would such a tax have?
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