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How much has personal income changed the last two years? Identified any problems the government needs to address, and possible solutions?
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Joe notices that prices have gone up for the custom bikes he sells - but fails to notice that the price of everything else is rising too because of general inflation. This is described by the _______________ model, which explains how output _________..
illustrate what dollar amount will the profit margin.
Explain how much should firm produce in order to maximize profit. Illustrate what is maximum profit that firm can generate at output level (your answer in a).
The two opposing views on government interaction and responsibility with respect to economic fiscal and monetary policies have been a topic of debate among economist for decades.
If there are fixed costs of production in a competitive industry, the q that solves the firm’s first-order condition
Using your answers above, why does the growth rate of real GDP differ depending on the base year? Explain how the technique of Chain-Weighted Real GDP alleviates this problem.
Illustrate what price should the firm charge to realize the targeted profit. Illustrate what would be its (cost-based) markup ratio.
Consider the production function q=4L^.3K^.8. In the short run, assume K=5. Derive formulas for Total Product, Average Product, and Marginal Product. Graph these three functions.
You have been asked by your boss to estimate the cost to purchase a new piece of production equipment. The company purchased this same type of equipment in the past for $15,000. The original equipment had a capacity of 2,000 units, while the new equi..
ACNE Corporation currently has a 20% market share in a $15 billion industry (measured by sales revenue). EMCA Corporation currently has a 17% market share in that same industry. What is the sales revenue for each corporation?
Now assume that the economy is open and that the world interest rate is determined on the world market instead of in the domestic economy. Use a two-country model with initial current accounts equal to zero. How does an increase in domestic wealth af..
What will happen in the cell phone market as technology improvements bring cost down?
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