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Do you agree or disagree with one of the following statements (just need to pick one)? Find an article that supports your claim. Summarize the article and write a short paragraph explaining your opinion. There is no right or wrong answer. You will get credit by applying what you have learned in this module in your argument.
- World trade is mostly concentrated within developed countries.
- Gravity trade model helps to explain most of U.S. trade patterns.
Construct a graph showing supply and demand in the electronic dog feeder market and how are the laws of supply and demand illustrated in this graph?
Explain how can you avoid the weakening dollar due to its depreciation as a result of inflation by weakening the economy by raising interest rates.
If a competitive industry is currently suffering economic losses then what can be expected to happen to the number of sellers, the price of the product, the volume of output and losses in this industry over time?
Why do long-run elasticities of demand differ from short-run elasticities. Consider two goods: paper towels and televisions. Which is a durable good.
When the capital is more than the steady-state level, what happens to investment, relative to depreciation?And then what happens to capital and output for the next period - is it greater or less than those for this period?
Suppose a firm’s input of capital is fixed at K = 5 . The cost of capital is r = 2. Derive the formulas for and plot the AFC, MC, AVC, and SAC curves if the short run total cost function is:
If a cartel like OPEC restricts the output of member nations to less than they are capable of producing with their existing levels of capital equipment, does the social cost of a monopoly increase? Explain.
Describe in words the shape of the histogram
How does the price elasticity of demand for corn oil influence the qauntity-demanded of corn oil and the total revenue earned by sellers of corn oli? Explain using economic terms
Joe's t-shirt shop is located in a small college town. the majority of business is custom t shirts for university book stores. as a sideline, they also sell t-shirts locally. the local demand is Q=200-5P. calculate output, price, and profit under ..
Which of the factors are least likely to affect what countries end up trading in the international market?
Assume that the United States is initially operating at its full-employment level of output and prices and wages are eventually flexible both upward and downward. Construct a long-run AD-AS model.
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