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Q1. An industrial breakthrough raises a country's total factor productivity A by 10%. Show how this change involves the graphs of both the production function relating output to capital as well as the construction function relating output to labor.
Q2. The 9/11terrorist attacks caused the US airline travel demand curve to shift left by an estimated 30%. Use a supply as well as demand diagram to show the likely consequence on cost as well as quantity assuming the market is competitive. Point out the magnitude of the likely equilibrium cost as well as quantity effects, for eg. Would you expect equilibrium quantity to change by about 30%? Show how the answer depends on the shape as well as location of the supply as well as demand curves.
q.the market demand and supply functions for pork are qd 2000 - 500p and qs 800 100p. to help pork manufacturer the
what will be price of wheat, how much total wheat will be demanded and how many wheat farms will there be.
If the decision is to be based on maximum expected value, what should be done?
What would the government likely challenge a merger where a firm with 20% share is attempting to acquire a firm with a 5% share.
you relate concepts in this week's readings to a prior real world experience. Experience does not necessarily have to be work experience. Examine market equilibrating process in relation to your experience.
Illustrate wow would the existence of such insurance affect the amount of clothing that people buy. How would you evaluate this change in behavior from the standpoint of economic efficiency.
Show the effect of an increase in the price that the government charges for electricity.
If the government imposes a ceiling of $6 on the price of the firm's product, Illustrate what output will the firm produce also Illustrate what will be total profits.
If the firm's price elasticity of demand is equal to -2 (or 2 in absolute terms) illustrate what price should the firm charge in order to maximize profits
He plans to marry at about the end of year 6 and will skip the investment contibutions that year. How far below or above his $300,000 goal will he be?
Wages are specified as dollars per hour of work and L represents number of workers per day. Determine total demand for plumbers in New York.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
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