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How can you graphically show an increase in labor supply with a perfectly elastic labor supply curve?
Draw up the payoffmatrix for game and do PA and LA have dominant strategies? Explain your answer.iii. What is the Nash equilibrium? Explain your answer.
What kind of market structure exists for the oil producers (i.e. the ones who pull it out of the ground and ship and sell it as crude oil)? What does this market structure tell us about the pricing
A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened what specific factors might have accounted for this event
suppose the market for a certain pharmaceutical drug consists of domestic united states consumers and foreign
Critical Thinking: Last year Congress passed a bill creating a new national health care system that is not yet fully explained. What principles of economics relate to this decision
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
What is the optimum and sustainable price ceiling the government could impose?
Suppose you are starting your own Internet business. You make a decision to form a company that will sell cookbooks online. You estimate that the yearly cost of this business will be given as follows:
1. suppose that ambers demand for gasoline is given by g 1000 - 200pg where g stands for gallons of gas and pg
Assume that, in a perfectly competitive market at profit maximizing quantity, the market price is greater than average total cost. Describe what will happen to the number of companies,
suppose for a closed economy no import or export the autonomous consumption ac 500 mpc0.9 and suppose that the
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What will happen to the amount of crime
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