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Step-wise answer to Supply and demand
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From a purely economic point of view, what role, if any, should the government play in affecting the supply and demand of a key commodity such as gasoline or electricity?
Given the price elasticity of demand for two products & marginal cost, determine the optimal markups and prices under third-degree price discrimination.
Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following ..
Jim is considering quitting his work and utilizing his savings to start a small business. He expects that his costs will consist of a lease on the building, inventory, wages for two workers, electricity and insurance.
Explain how many years would it take to reduce the unemployment rate by 3 percentage points, assuming that the current GDP growth rate will continue into the future.
A team of minor league baseball is trying to predict ticket sales for the upcoming season and is considering changing ticket prices.
Consider the instrumental variable regression model Y i β 0 + β 1 X 1 + β 2 X 1 +u i , where Z i is an instrument
Calculate the cross-price elasticity for the following goods. Are they complements or substitutes?
Does the transaction of a buyer also seller directly affect a third party. Is the effect a negative or positive externality.
Explain is low stable inflation also deflation better for the economy.
Suppose the Federal Reserve lowers its target for the federal funds rate six times in seven months while the European Central Bank leaves its target for short term interest rates unchanged.
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are:
Prepare a chart that lists three strengths and three weaknesses of the Consumer Price Index calculation.
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