Reference no: EM131164515
Assume the market for ceiling fans is perfectly competitive and is currently in equilibrium. If the demand increases while the supply decreases, then we can be certain that A. the equilibrium price will increase. B. the equilibrium quantity will increase. C. both price and quantity will increase. D. both price and quantity will decrease.
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Social welfare function for small community of five people
: Consider the following social welfare function for a small community of five people. SW = Ua(Na, Ca, C~a, Pa) + Ub(Nb, Cb, C~b, Pb) + Uc(Nc, Cc, C~c, Pc) + Ud(Nd, Cd, C~d, Pd) + Ue(Ne, Ce, C~e, Pe) where: N = noncompetitive goods C = competitive good..
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Term of type of budget and type of economy
: Suppose that the economy of an island H is described by the following equations: GDP (Y) = 8000, government expenditures (G) = 600, Taxes (T) = 1000, Consumption (C) = 400 + 3/4 (Y-T), and investment (I) = 800 – 200r. What can you conclude about the ..
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Demand faced by firm and demand faced by an industry
: Which of the following describes the difference between the demand faced by a firm and the demand faced by an industry?
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What is the labor force participation
: In year 2013, the population of island I is 210, 000 people, of which 150,000 are aged 16 or older. Of this 150,000 people, 100,000 have jobs (50,000 do not). Find the employment rate is for 2013. What is the labor force participation in 2013?
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Perfectly competitive and is currently in equilibrium
: Assume the market for ceiling fans is perfectly competitive and is currently in equilibrium.
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Find the employment rate
: In year 2013, the population of island I is 210, 000 people, of which 150,000 are aged 16 or older. Of this 150,000 people, 100,000 have jobs (50,000 do not). 30,000 are separated but actively seeking employment and there are 20, 000 who have given u..
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Term of type of budget and type of economy
: Suppose that the economy of an island H is described by the following equations: GDP (Y) = 8000, government expenditures (G) = 600, Taxes (T) = 1000, Consumption (C) = 400 + 3/4 (Y-T), and investment (I) = 800 – 200r. What can you conclude about the ..
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Let the price of barbancourt
: Let the price of Barbancourt (the Haitian Rum) be $15 a bottle in 2000 and $25 in 2010, and its production 5000 and 7500 bottles respectively for the two years. Let the price of a bag of rice be $20 in 2000 and $35 in 2010, when its production is 100..
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The aggregate demand curve slopes downward because
: The aggregate demand curve slopes downward because:
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