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Some economists believe that the world market for some raw materials (like cotton) comes close to a perfectly competitive market.
With reference to the world market for cotton, briefly explain THERE reasons why the world market for cotton comes close a perfectly competitive market.
Imagine you are a member of Congress. Since consumer spending comprises at least 2/3 of real GDP, you know that increasing that spending would boost the U.S. economy in the short run. During a press conference, a member of the press asks you what you..
Discuss the effect the credit market crisis in the United States in 2008 had in the market for existing single-family homes. Assuming the demand for existing single-family homes is relatively inelastic, what is likely to happen to the total revenues ..
If market inverse demand is p(Q)=a-bQ and the firm produces according to TC(Q)=cQ+dQ2, determine the firm's optimal quantity, price and profit level. (Assume that a,b,c,d >0.) What conditions on b and d must hold in equilibrium?
q1. portland and aleland are two identical countries. beer manufacturers in each country compete under monopolistic
Suppose government now impose a tax, , on every unit of cheese produced. Graphically illustrate market after tax. Label tax revenues collected. Who bears more of burden.
Assume that the marketplace for sweaters is perfectly competitive. The future value of a deposit in a savings account will be larger
If an industry's long run per unit costs are constant as its output increases then?
In standard macro model, it is usually time preference that causes positive interest rate. But is there anything to do with risk aversion of utility function that causes existence of positive interest rate?
The charter boat fishing industry has a marginal benefit (demand) for fishing trips out of Irondequoit Bay which can be expressed as a linear function of the price of the trip and the number of trips taken out of the port. This marginal benefit curve..
q1. briefly summarize this loanable funds theory in your own words. identify at least one important entrepreneur that
In the model for airline seat pricing, we studied the case of non-refundable tickets. What if the airline offers refundable business class tickets. You can buy a business class ticket and return it for a full refund if you do not fly.
Suppose that all wages also prices in an economy are indexed to increase. Explain there can still be an increase tax.
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