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In 2011 the US trucking industry faced the following economic conditions: (i) At last the US economy was recovering from a prolonged slump during which trucking had shrunk its capacity by 14%, (ii) the government instituted new regulations imposing more frequent inspections and restricting operators' daily driving hours, and (iii) year over year, diesel fuel prices were up by 9%. What overall impact do you predict on industry output (measured in total volume and miles of goods transported) and trucking rates?
At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place between A and B in David Ricardo’s world? How many manufactures could B supply?
The marginal cost of producing the 101st unit of output is $300. Illustrate what is the total cost of producing 101 units
If overseas producers can sell in the domestic market Illustrate what is the equilibrium price. Illustrate what is the equilibrium quantity.
Explain how does economists distinguish between the absolute and relative sizes of the public debt.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope.
Laptops have also become easier and cheaper to produce as new technology has come online. Despite the shift of demand prices have fallen
Is this analysis consistent with the proposition which money has real effects in the short run but is neutral in the long run.
Calculate the price elasticity of demand using the point formula for Px = 20 and Py = 10. Determine whether demand is elastic, inelastic, or unit elastic with respect to its own price and whether Good Y is a substitute or a complement with respect..
An automobile factory sold $10,000,000 in automobiles to final consumers. Given these events, calculate the GDP of Autoland using a. the final goods approach. b. the value-added approach.
Suppose a firm is hiring 20 workers at a wage rate of $60. The average product of labor is 30, the last worker added 12 units of output, and total fixed cost is $3,600. What is marginal cost?
Elucidate the cutthroat competitor's reasons for not raising or lowering his price, thereby accounting for the kink in his demand curve.
Suppose the Caribbean market was deregulated so that the routes become perfectly competitive, find out the price and the number of trips for the Kingston-Georgetown route.
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