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What’s the role of price in allocating the resources? Give logical examples for explanation. Draw graphs where necessary.
(max three pages,Minimumm 1.5 page?
What is the magnitude of J.R.'s consumer surplus at the equilibrium price and how high must the price of ribs be for Judy to supply 20 ribs to the market?
The owner of a fast-food restaurant estimates that she can produce and sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day.
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- and/or long-term productivity in the U..
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience.
The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
KROM-FM is currently contemplating a T-shirt advertising promotion. Sales data from T-shirt shops marketing a prototype of the KROM design indicate that Q=1,200-200P Where Q is T-shirt sales and P is price.
The range of reserve requirements that the Board of Governors can set for net transaction accounts is a. 3 to 6 percent b. 8 to 14 percent c. 3 to 14 percent d. 0 to 9 percent
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users..
Suppose that an industry cartel wishes to keep a new entrant out of an industry. Cartel members can conduct "predatory pricing", where the cartel lowers its price until the entrant leaves, after which it returns it price to the cartel's optimal (m..
Calculate the government revenue, consumers’ tax incidence, producers’ tax incidence, and deadweight loss in both Beijing and Qingdao due to the excise tax in each city.
Suppose you are appointed to chair the Federal Reserve. Your twin goals are to maintain low inflation and to stabilize economic activity- that is, to keep output at potential. Why are these appropriate goals for monetary policy?
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