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Net taxes affect consumption via disposable income. Do you think that net taxes could affect any of the other components of aggregate expenditures? If yes, explain how.
The demand-supply market models (for each market below) to graphically illustrate and explain the following scenarios (in the short run). Identify for each scenario what the effects on price and quantity are likely to be. State your assumptions.
What is the value of the vertical intercept of the aggregate expenditures function when we add net exports. What is the total (equation wise) of autonomous spending with net exports added.
Discuss why is increasing per capital income necessary but not sufficient for broadly dipping poverty and improving human welfare?
Some experts have suggested that of the total electricity consumed in the United States, 8 percent is used up by the internet. Thus an increased demand by consumers to surf the internet will the equilibrum price of electricity and the equilibrium ..
In the long run, inflationary andrecessionary gaps are self-correcting because, eventually. nominalwages rise and fall in order to close an inflationary or arecessionary gap thegovernment applies the right combination of fiscal and monetarypolicies t..
What is the purpose of the policy Why is the policy necessary The welfare of consumers, producers, and society (the winners and losers) before and after the policy The distribution of costs and benefits Does government intervention improve the sit..
a. Demonstrate mathematically that ATC and AVC are not parallel. b. Show mathematically that when both ATC and AVC are falling, ATC falls faster than AVC, and when both are rising, AVC rises faster than ATC.
Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be
Find out the total revenue (TR) and total profits in terms of Q. At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
Calculate the deadweight loss (i.e., the welfare loss) associated with this market being monopolistic and calculate the difference in consumer surplus under perfect competition compared to monopoly.
Suppose that a monopoly industry produces less output than a similar competitive industry. Discuss why this may be considered socially undesirable. Is this because it is always socially beneficial to produce more of some product
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
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