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Q1. Markets left alone always tend to equilibrate, that is, find their way back to the equilibrium point. What is required to maintain a price that is higher or lower than equilibrium?
Q2. How does the supply of land differ from the supply of most labor? How will the effect on price of an outward shift in demand for labor differ from the effect on price of an equivalent shift in the demand for land?
Discuss the manner in which an analyst would compare the relative profitability of the two potato chip segments.
The trade or business of manufacturing dolls and accessories
Does the patent system encourage duplicative efforts solely for the chance to be first.
Consider that, in this case, we 1st add (marginal) costs, not quantities, since these are the costs associated with each t-shirt.
Suppose that the US government determines that cigarette smoking creates social cost not reflected in the current market price an equilibrium quantity of cigarettes.
Draw his budget constraint in terms of S and T. What is the slope of the budget constraint and how does it relate to the relative price.
Explain what the GDP cost index is and what is its role in differentiating nominal GDP and real GDP.
If you were a supplier to the furniture producer, would have chosen to see the analysis performed in physical sales units rather than dollars of revenue.
What is the expected rate of depreciation in the Korean won relative to the Japanese yen
Compare the sum of consumer and producer surplus for the monopoly with the results for perfect competition.
Provide examples of two industries with different time frames for the short run. Clarify why this is the case.
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
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