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Which of the following items would not be included in GDP for the current year?
1. The dollar value of a do-it-yourself repair job in the current year.
2. The dollar value of a lawyer's services rendered in the current year.
3. The production of 50,000 books by McGraw-Hill in one year that were not sold in the current year.
4. The production and purchase of 50 new trucks by UPS in the current year in order to help deliver more parcels to customers.
Draw a monopolistic competitor in long run equilibrium. On the same graph draw the long run perfect competition equilibrium. Describe why a monopolistically competitive market cannot reach the same equilibrium as perfect competition in the long run.
Each of the following firms possesses market power. Explain its source. Merck, the producer of the patented cholesterol-lowering drug Zetia
problem 1.a. use the spreadsheet to compute the net present value of the following series of cash flows assuming a
Draw a graph of aggregate demand and aggregate supply to illustrate the current situation. Be sure to include the aggregate demand curve, the short run aggregate supply curve and the long-run aggregate supply curve
a company produces an electronic timing switch that is used in consumer and commercial products. the fixed cost cf is
suppose that the firms initial demand curve had been p 5000 - 50q and that it shifted inward to p 4000 - 50q. assume
suppose that there are 2000 units of a non-renewable resource available over two periods. demand in each period is
create a presentation of 8-10 slides in the form of a proposal discussing the benefits of strategic capacity planning
The marketing team of Burton Snowboard is analyzing her demand for two types of snowboard – Professional and Standard models. At Thanksgiving sales, the Professional board is discounted from the original price of $1,000.
Q=aK+bL, where a and b are the coefficients of capital and labour respectively. Q refers to output, K refers to capital and L refers to labour. show that the marginal rate of substitution between capital and labour is MRTSKL=b/a
smaller multiplier means that the change in government purchases of goods and services or taxes necessary to close an inflationary or recessionary gap is larger. Explain this apparent inconsistency
How does the rate of population growth influence the level of GDP per person?
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