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Provide an example of a product or service in which you would pay above the market price. Discuss how it relates to consumer surplus.
Discuss some clues that a consumer could identify to know whether a producer has a surplus.Examine the first theorem of welfare economics and its importance. If this theorem did not hold true, how would this impact the study of economics?
Analyze how taxes can make markets fail to achieve economic efficiency and illustrate with your own examples. Discuss why the government must force market equilibrium
Use appropriate assumptions where required. These may help you to simplify any complexity. Selecting appropriate assumptions in economics is
You will not be making any payments on the interest (from the loan) generated from the principle while you are attending school, so no payments for four years - For each option you need to have hand calculations that determine the total amount owe..
How do you ?nd the most ef?cient output, and how do you ?nd the most pro?table output and at the output at which a ?rm maximizes its pro?ts, what two variables are equal?
A requirement to have a yearly balanced federal budget would mean: Unsaved Economists view investment spending as which of the following:
by outsourcing overseas a company can reduce costs but must also take certain risks. global supply chains are exposed
Explain the advantages and disadvantages of international trade. Some possible areas to use are comparative advantage, gains from trade, and trade restrictions.
Suppose a country switches from a flexible to a fixed exchange rate. Which of the following will occur as a result of this change?
Debit cards allow an individual to transfer funds directly in a checkable account to a merchant without writing a check. How is this different from the way credit cards work Are either credit cards or debit cards money Explain.
most spells of unemployment are short and most unemployment observed at any given time is long term. how can this
What does theory predict about the impact of this EITC expansion on the labor supply of single women with children? Discuss the predictions. Would you expect a difference by family size.
Diagrammatically identify the quantity of output a monopolistic competitor that is incurring losses. Separately, diagrammatically identify a monopolistic competitor that is incurring losses.
What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1." Although all other forms of money include cash, M1..
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