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Microeconomics Problem: Price Gouging After Disasters
Your final research paper should be a minimum of four pages and not more than seven pages. It should have an introduction (containing a thesis) and a conclusion. You must correctly cite your sources using APA format. Write about the problem or issue as if you are explaining it to someone who has never taken an economics class. Be sure to explain the key concepts and terminology of both microeconomics and macroeconomics within your paper. Be sure and include graphs to illustrate key ideas if relevant.
Suppose the City Council conducts an extensive review and finds that the information provided by the Executive Director of the MTA is more accurate. What action should the City Council take on bus fares and why?
Assume that the price of silk ties in a perfectly competitive market is $17 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10 Total Cost 17 24 33 44 57 72 89 108 129 152 177
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
5 countries are USA, Japan, Sweden, Trinidad and Tobago, and Botswana Go to CIA world factbook, click on guide to country comparisons, economy and GDP per capita Which country has the highest and lowest standard of living
Suppose the government misjudges the natural rate of unemployment to be much lower than it actually is, and thus undertakes expansionary fiscal and monetary policy to try to achieve the lower rate.
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
The economy of the country of Upland is still recovering from a severe recession and still has an unemployment rate close to 9%. Assume that the government's only concern is to achieve full employment. 1. What type of fiscal policy would you rec..
What number of drivers appears to be most efficient in terms of output per driver and what number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?
A monopolist sells in two geographically divided markets, the East and West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each and every market are as follows:
Getrag expects its sales to raise 20 percent next year from its current level of $4.7 million. Getrag has current assets of $660,000, net fixed assets of 1.5 million dollar,
Johnny Appleseed has an orchard with 1000 trees. Each tree can either produce α pounds of apples or σ pounds of apple sauce. Using the symbols A for apple and S for apple sauce, find the equation of the PPF between A and S (use A as the depe..
1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2.What might account for the fact that estimates of effect time lags for fiscal p..
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