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Find the most recent economic growth rate (or real GDP ) figure for the U.S. economy at the www.bea.gov website. What do you think is the primary reason for this current level of economic growth or contraction? Explain your answer.
What are the major factors that determine investment and what impact does each have on aggregate demand?
1. domestic market demand for some good is described by p 100 - q. domestic supply is described by p 20 2q.
Suppose you own an insurance company. Further suppose that this market is composed of only 3 people. Further still, supposed that this insurance is full coverage and medical expenses are always $1000. It would be logical to also assume conditions ..
Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
The total cost of a firm is given as C(Q) = 0.2Q3 - 0.5Q2 + 300Q +100 the current level of production is 10 units. If the firm plans to increase its level of production to 10.1 units estimate the change in the total cost of production
The Widget Co. has the following inverse demand curve: p= 970.15-19.27x, where x is the number of units produced and sold. The cost function C(x)= 81.8+ .84x+ 15x^2. Decide the quantity x that maximizes profit.
A small company involved in e-commerce is interested in statistics concerning the use of e-mail. A poll found that 36 percent of a random sample of 1094 adults, who use a computer at their home, work, or school, said that they do not send or receive ..
because diversification is a desirable strategy for avoiding risk it never makes sense for a bank to specialize in
The employment of teaching assistants (TAs) by major universities can be characterized as a monopsony. Suppose the demand for TAs is W = 30,000 - 125n, where W is the wage (as an annual salary) and n is the number of TAs hired. The supply of..
1. distinguish between the benefits-received and the ability-to-pay principles of taxation. which philosophy is more
Let's consider a market with both foreign and domestic (i.e. U.S.) production. Suppose that domestic (U.S.) demand is given by QD = 6000 - 50P and domestic supply is QS . Foreign producers can supply any quantity at a price of $40.
A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker.
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