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Given the market for wheat in equilibrium, assume that the government imposes a price floor on wheat. Explain what happens to the market for wheat as a result of this action? Draw and graph to fully illustrate the situation.
Pat and Chris must independently decide whether to go to Naan n’ Curry or Top Dog at noon. Pat prefers Naan n’ Curry; Chris prefers Top Dog; and as BFF’s, they derive no jollies unless they eat together. Specifically, if they both choose Top Dog, Chr..
suppose that the demand and supply functions for good x are as followsqd 75 .004m - 4pqs -43 - .4pi 3pa. is this
What is the monopolistically competitive price and equilibrium number of firms? What is the aggregate increase in profits for firms in the coalition?
Explain how the Heckscher-Ohlin theorem is obtained, using either the “physical” definition or the “price” (or “economic”) definition of relative factor abundance.
From the scenario for Katrina's Candies, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs
Working at home (preparing meals, taking care of children is not counted as part of GDP. Such work also doesn't constitute employment in labor- market statistics. Calculate the measured employment and unemployment and the measured labor force for eac..
What happens in a perfectly competitive industry when economic profit is greater than zero?
q1. if the economy currently has a frictional unemployment rate of 2 percent structural unemployment of 2 seasonal
Illustrate what is the optimal production quantity measured in thousands of bushels of Texas Citrus Company in the short run.
Listing different orderings and coalitions is not going to work for this problem because there are too many possibilities, excluding you can use different tools which we have discussed in class.
What is the principal-agent problem? When will the principal agent problem be most severe? Why might there be a principal-agent problem between the stockholder owners and the managers of a large corporation?
Assume your elasticity of demand for your parking spaces is -0.5 and price is $20 every day. If your MC is 0 and your capacity at 9 a.m. is 96% full over the last month are you optimizing.
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