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Q. You sell a "commodity" in a market that resembles perfect competition, and your cost function is C(Q) = 2Q + 3Q^2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain the price that will prevail in the market. You believe that there is a 70 percent chance the market price will be $200 and a 30 percent chance it will be $600.
Find the output you should produce in order to maximize your expected profits so that you can then determine your expected profits accurately.
Use the endogenous growth model to determine the effects of this on the paths of aggregate consumption and aggregate output overtime.
Given the expected price level, policies for reaching potential GDP will work best if the funds provide.
The government wants to eliminate the inflationary gap by changing expenditures. What policy do you suggest? By how much will unemployment change after you policy has taken effect?
If an economist refers to a ‘lemons market,' what should you infer. A. She is referring to a market for fruit. B. She is referring to any market with asymmetric or hidden information.
Consider competitive markets, monopolies, and oligopolies. What role does each of these play in an economy?
Assume that the history of the game is common knowledge. That is, in period t, the past choices of effort for all doctors over periods 1, ..., t - 1 are observed
Assuming that land and labour are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners in Texas.
If salary and prices are completely flexible, then an unfavorable productivity shock would raise both the natural rate of unemployment and the actual unemployment rate.
Suppose each government has a target level of output of 125 and that each government increases government spending by the same amount.
This change undermines the marketplace for the replacement which is about twice the size of the marketplace for T3MP.
Illustrate what books and information sources would you recommend to read if i am working on research about decision making under risks.
Fiscal approach was expansionary because the full-employment budget deficit increased from one yr to the next.
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