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A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist charges a single price for its output. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, the monopolist’s profits are equal to what number? (NOTE: Write your first answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands.) Show all steps.
What is the current state of the US economy? Define how GDP is doing in each of its components (Consumption, Investment, Government Purchases and Net Exports).
What do the problems with the measurement of the Gross Domestic Product (GDP), Consumer Price Index (CPI) and unemployment rate statistics mean about the actual state of the economy as compared to what the statistics indicate. Is the country really d..
Suppose this year Angola borrows $100 million from foreign countries while it lends $15 million. Angola definitely is a net borrower. net lender.
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
What is your own view on poverty and Do you consider your view to lean towards the liberal or conservative view of poverty?
Economists argue that successful business depends on creating sustainable and effective supply and demand networks. If you own (manage) a business, how do you create effective deamnd and effective supply to maximize profit?
In the most recent recession of 2008 and 2009, the United States saw a declining GDP, rising unemployment, and, sometimes, deflation. What type of fiscal and monetary policy is appropriate to fight the recession? Analyze these using the Phillips curv..
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price? If a firm set its price below the current market price, what effect would this have on the market? Discuss.
The United States is a large open economy with a trade deficit. Use the appropriate graphs to illustrate and then state what the equal increases in taxes and government purchases would do to each of the following in the long run: national saving, the..
Even though it is reported that weapons of mass destruction were not found in Iraq, do you agree or disagree with the statement: The Bush administration is justified in toppling Saddam Hussein, considering the threat that he posed to world no longer ..
Consider terrorism. At the time of writing this exam there had been more acts of terrorism in Europe. According to the text, what technology contributes to effective terrorism at this time?
Explain how should the United States Supreme Court interpret the United States Constitution.
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