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In order to show that perfectly competitive markets are efficient, economists assume that such markets are characterized by “perfect information.” How can imperfect information create inefficiency in what would otherwise be a competitive market?
Wages in the United States vary in every state, because each state has different minimum wages, but the best to my knowledge wages are determined and priced for every field profession and its factors. Is it possible you might revisit your thought on ..
In accordance with the law of supply, if the price doubled, the quantity supplied would generally ______. A shift in the supply curve for gasoline in the United States would result if _______. A typical demand schedule shows higher sales at lower pri..
A machine was purchased 4 years ago for $28,000. Its estimated life was 7 years with $0 salvage. Its market value today is $35,000. It is thought that its market value in 3 more years will be $12,000. 5 year macrs depreciation is being used. Calculat..
If the price above the equilibrium level, would you predict excess supply or excess demand? If the price is below the equilibrium level, would you predict a shortage or a surplus? Why?
You have just been appointed the new Economic Advisor to the U.S. Government and have been asked to develop an economic series of projections for the U.S. domestic economy for the next year. Outline your new forecast based on current developments.
After America's latest mortgage meltdown, what checks and balances are required at the 1) Consumer Level 2) Mortgage provider level 3) Government level?
Why is it often difficult to develop a realistic analysis?
Suppose that the money demand function is (M/P)d = 800 - 50r, where r is interest rate in percent. The money supply M is 2,000 and the price level P is fixed at 5. a. Graph the supply and demand for real money balances. b. What is equilibrium interes..
Elucidate the factors that affected labor demand and labor supply in the chosen historical example.
In the neoclassical growth theory
q.there are two identical firms in an industry. each firm uses a cournot strategy to maximize profits. if the best
Milliken uses a digitally controlled “dyer” for placing intricate and integrated patterns on manufactured carpet squares for home and commercial use. It is purchased for $400,000. Its market value will be $310,000 at the end of the first year and dro..
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