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If marginal product is above the average product, what will be effect on total product, total revenue,average product and average variable costs?
Consider a market where supply and demand are given by QXS = -14 + PX and QXd = 91 - 2PX. Suppose the government imposes a price floor of $42, and agrees to purchase any and all units consumers do not buy at the floor price of $42 per unit.
This increases the need for education in the economy as a whole because automation took away these jobs. Because of the increased need for education, more jobs were created and the education setting like universities have created jobs.
Suppose in the banking system as a whole, demand deposits are equal to $80,000,000 and reserves are equal to $17,000,000 with a legal reserve ratio of 10%. If the Fed doubles the required ratio, by how much will the money-creating potential.
Illustrate what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these costs.
What is your economic cost of buying a ticket? What is your economic cost of attending the game (once you already bought the ticket)?
What was the cross-exchange rate between the Real and the Peso in 2001? Real____/Peso. What was cross-exchage rate between Real and Peso in 2002? Real_____/Peso.
Pat and Kris are roommates. They spend most of their time studying (of course), but some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza.
When McDonald's Corp. reduced the price of its Big Mac by 75 percent if customers also purchased-Using your knowledge of game theory, what do you thank disrupted McDonald's plans?
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP, and indicate in each calculation whether you are inflating or deflating the nominal GDP data.
Determine the four stages of the Business Cycle and compare and Contrast five internal and external Business Cycle theories.
Suppose government increases autonomous taxes and defence expenditure by the same amount. Will real GDP increase in the short run? Why?
Suppose that the pound is pegged to gold at 6 pounds per ounce, whereas the franc is pegged to gold at 12 francs per ounce. This, of course, implies that the equilibrium exchange rate should be two francs per pound
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