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Suppose that firms in the chemical industry are allowed, free of charge, to dump harmful products into rivers. If this is the case in a competitive market, how will the price and output of the chemical products compare with their values under conditions of ideal economic efficiency?
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
The economy is made up of C and I and is currently at full employment. If consumption is $5 trillion while savings is $1 trillion, what is present investment according to classical economists.
discuss whether you agree or disagree with Chairman Bernanke's remarks on economic outlook and the role of the Fed' s monetary policy effectiveness by using unconventional policy.
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so Why?
Which economic decision makers conclude the provider of labor. Illustrate what is their goal also illustrate what decision criteria do they utilize in trying to reach which goal.
A recording company obtains the following information about the demand and production costs of its new.
Suppose that C (q) = 10q + 3,500,000 (for which MC (q) = 10 ). Use Inverse Elasticity Pricing Rule in order to determine profit maximizing price and level of output for this firm. Is this firm able to earn a positive profit.
An athletic director was once quoted as saying that he felt his school spent too much on athletics but that it could not afford to stop.
Can an economy be faced with endless trade cycles also still have its Real GDP grow over time?
Find the subgame perfect equilibria of the variant of the game in which the post-entry competition is a game in which each firm chooses a price, rather than an output.
Explain what it would mean for you to move upward and to the left along your personal PPF. What kinds of adjustments would you have to make in your life to make such a movement along the frontier?
Presently, at a price of $1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply.
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