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Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider how inflation affects the price of goods over time. What is the best way to measure our economy?
The demand curve for higher education in Tallahassee is P=120-2Q. Assume the only two colleges in town are FSU and FAMU. Each university faces the cost function TC=6Q. Both colleges get together and successfully collude to fix price at a profit maxim..
The Capitalpoor Company is considering purchasing business machine for $100,000. An alternative is to rent it for $35,000 at the beginning of each year. The rental would include all repairs and services. Assuming an income tax rate of 25%, a straight..
Microsoft appears to have a monopoly with over 90 %of the personal computer operating market. Why then would it not be charging a monopoly price
How do you, as a consumer, benefit from the cell phone market being monopolistically competitive rather than perfectly competitive? How you are negatively impacted? Describe what you think the cell phone market would be like, from the perspective of ..
The local city government has the offer of a gift. The donor wants to donate toward perpetual upkeep of the newly built park. If the upkeep cost is $25,000 per year and her gift as a long term investment can earn 8% annually,
q.a friend of yours is considering two cell phones service providers. provider a charges 120 per month for the service
Suppose a firm’s production function is: f(E,K) = 40K0.25E0.75 The corresponding marginal product functions are: MPK = 10K-0.75E0.75 and MPE = 30K0.25E-0.25 Suppose initially that the hourly wage is $9 and the price of each unit of capital is $15. If..
A test is conducted in eight cities to see if giving away free transit system maps will increase bus ridership. In a regression analysis, the dependent variable is the increase
What percent of the total complaints can be attributed to the most prevalent complaint?
Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.
Outline reasons why the marginal revenue product differs between workers in different jobs.
What would happen to the amount of economic investment made today if firms expected the future returns to such investment to be very low.
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