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Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress, on pros and cons of a big highway building program to combat the recession.
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity,price) points of (50, $10) and (54, $8).
Briefly Explain how the Gross Domestic Product (GDP) affected the recession in the United States throughout the late President Bush and early President Obama years.
Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
Assume the economy starts at equilibrium and the mpc=.8. What would be the effect of the $500 increase in taxes (once all the rounds of the mulyiplier process are complete) in relation to equilibrium output?
Assume government forced a minimum wage above what otherwise would be equilibrium wage rate for this segment of the labor market.
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days for each year. It has orders for about 12,000 flashing lights for each year and has the ability of prod..
Determine how global competition impacts FORD. Should the organization/industry continue, expand, or reduce current operations in order to maximize profits? Explain your reasoning.
What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
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