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Q1. When Betsy goes to make her list for tomorrow she is upset that she didn't get everything done. In a well-written paragraph explain the economics behind her inability to accomplish her entire list as well as her decision process in choosing some activities over others. Would you expect the choices she made today to have been different if she had an economics test tomorrow?
Q2. There are 300 purely competitive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested. What is their percentage rate of return?
Calculate Marginal Revenue from demand if the marginal propensity to save is 0.05, how large is the multiplier.
Suppose that these cost figures accurately refl ect the economic costs of providing inpatient services at these two hospitals and that the two hospitals face the same average total cost curve.
Explain an economy is initially in equilibrium at the natural level. The central bank increases the money supply.
Indicate if GDP is affected, under what category and what happens to GDP Oklahoma cleans up after a devastating tornado.
Gains from trade will result if a country specializes.
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit?
The government wants to increase real GDP demanded to $15 trillion at the given price level
If the company has not paid dividends, discuss why think the company is not paying dividends or whether they should consider adopting a dividend policy.
What is the confidence interval for the proportion of households represented at a town meeting. Survey of households in a small town showed that in 850 of 1,200 sampled households.
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