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How can the three basic assumptions of human behavior ( people are rational, people respond to incenititives and optimal decisions are made on the margin) be called the backbone of supply and demand?
Suppose that a monopolist's product could be either high quality (H) or low quality (L).
Elucidate how these tendencies lead to religion becoming evil, how does Kimball respond to them and how the Greek Orthodox tradition transcends them.
What is the difference between short and long run in terms of the quantity of inputs used in production of goods and services? Are supply and demand generally more elastic in the long run? Provide an example.
If there are two firms in the market, what are their profits after taking into account the entry cost?
Suppose the economy has a natural rate of unemployment of 6%. Suppose short-run output over the next 4 years is +1%, 0%, -1%, and -2%. According to Okun's law, what unemployment rates would we wxpect to see in this economy?
As a means for less developed countries to attract the savings and investment necessary for economic growth and development, is short-term portfolio investment better than Foreign Direct Investment? Explain.
q1. jerry drives up to a gas station. before looking at the price he places an order and says id like 10 of gas. what
A monopolist like Spago (a famous Hollywood restaurant frequented by movie stars) can fully pass on all the marginal cost increases to its diners through higher prices since it is a price maker and can charge any price it wishes. True, False, or Unce..
Explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.
Suppose the growth rate of the firm's profit is 7 percent, the interest rate is 9 percent, and the current profits of the firm are $90 million. The firm does NOT pay out dividends. What is the value of the firm? $4,905 million $613 million $405 milli..
Elucidate what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities.
An auto-part manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations that each would cost 25,000 and have a service life of five years.
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