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If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
You are considering buying car insurance for the coming two years. Whether or not you buy insurance, you have the following probability distribution over the car accident damages for each year (the probability of having an accident is independent acr..
You read in a business magazine that computer firms are reaping high profits. Assume that the computer market is perfectly competitive.
explain why an increase in the wage rate for autoworkers will generate more of a negative employment response in the long run than in the short run
Illustrate the total price of production (including the cost due to environmental damage) at the unregulated equilibrium quantity of 400.
Describe how the system converges to its new equilibrium. What happens to the equilibrium wage in the long run? What happens to the equilibrium population size in the long run?
Will these monopolies typically earn economic profits. Why do not other airlines enter these monopoly routes.
Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve.
What is wrong with claiming that changes in the distribution of income are associated with trade instead of the technological changes that the article discusses.
explain how would this change affects the optimal investment rule for the firm.
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run.
Assume that velocity of money is 5, nominal GDP is $1,350,000 and cost level is 3. Estimate all possible unknowns in XYZ's economy, if its federal reserve buys $9,000.00 in government bonds.
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