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Q. Price q Elasticity of Demand is equal to = 2 at every point along this demand curve. A. 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?
Elucidate what does this imply about the use of monetary and fiscal policy over the business cycle.
Illustrate what happens when a consumer decides to save and reduce thier spending of consumer goods. Does this affect the supply of money, demand of money or the intrest rate.
This exercise presents a simple example to elucidate how exchange-rate conversions can produce misleading results and how the PPP methodology works.
Why do you think macroeconomists focus on just a few key statistics when trying to understand the health also trajectory of an economy.
Fill in the column of marginal products. What pattern do you see. How might you explain it. Compare the column for average total cost and the column for marginal cost. Explain the relationship.
Ilustrate what is the equilibrium cost in the corn chip market. How many corn chips will be bought by children and how many by adults.
Brinley puts on an art show in a public space asking for donations base on how much people enjoy his work.
Numerous times in the lectures labelling the vertical axis as euro per $ and the initial supply and demand curves labelled with 12/07, Label this initial point as point A.
The nation of Potchatoonie produces hockey pucks, cases of root beer also back rubs.
If nominal GDP in some year is $280 and real GDP is $160. The GDP price index for that year is.
The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends.
Assume that a Swiss watchmaker imports watch components from Sweden and exports watches to the United States. Illustrate what is the relationship among disposable income and consumption expenditure.
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