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1 Edward Scahill produces table lamps in the perfectly competitive desk lamp market.
a. Fill in the missing values in the following table:
b. Suppose the equilibrium price in the desk lamp market is $50. How many table lamps should Scahill produce, and how much profit will he make?
c. If next week the equilibrium price of desk lamps drops to $30, should Scahill shut down? Explain.
What is the multiplier? How is it calculated? Why is the multiplier related only to consumption spending?
In Milky Way Galaxy, a class of 2,000 students took a course in Astronomy. The 1st exam scores and final exam percentage reached earth, but transmission broke off after only a dozen students' scores were received.
suppose the supply of a good is given by the equation qs240p-240 and the demand for the good is given by the equation
Use Okun's law to calculate the GDP Gap if actual U= 10% andUn= 6%. If actual Gdp is 100, then what is the value for potential output I got the GDP gap and its +.08, how do you come up with the potential output
The data can be found in the book website www-stat.stanford.edu/ElemStatLearn.
The following table contains information about the revenues and costs for Barry's Baseball Manufacturing. All data are per hour. Complete the first group of columns which correspond to Barry's production if P=$3. (TR=total revenue, TC=total cost, ..
Dixon Shuttleworth has a large sum of money that he wants to invest to finance his retirement. He has been presented with three options. The first investment offers a 5% return for the first five years, a 10% return for the next five years.
The City of New York has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a year. Paying this salary, each of the 199 firms makes a normal profit on $500,000 in revenue.
A country is described by the Solow Model with a production function y = \(k^{1/2}\) where y is output per worker and k is capital per worker. Now suppose that the fraction of output invested (or saved) is 50%. Assume that the depreciation rate is..
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers
a)what is equilibrium level of national income using table above b)at the equilibrium level of national income what will consumption expenditure be c)at the equilibrium level of national income what will the levelof saving be
A firm has the opportunity to invest in a project having an initial outlay of $20,000. Net cash inflows (before depreciation and taxes) are expected to be $5,000 per year for five years. The firm has a marginal income-tax rate of 40%.
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