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Question 1:
If the demand and supply curve for computers are:
D = 100 - 6P, S = 28 + 3P
where P is the price of computers, what is the quantity of computers bought and sold at equilibrium.
Using graphs, describe the economic impacts of a tariff on a nation welfare, and show how a tariff would affect the current equilibrium value and quantity and import levels within a market.
What are the 3 "general ways" (Money can be classified into 3 group) that you use our monetary tool (the US $) to make your life better Why did some people say "money is the root of all evil" when money has always just been an inamite tool
The price of Canadian-grown peaches skyrockets during an unusually cold summer that reduces the size of the peach harvest and Technological improvements in the microchip lead to price reductions for personal computers and an increase in computer sale..
Suppose this society produces twenty million tons of food and six million tractors per year. Is it operating on its production possibilities frontier? d. What factors might cause this nation to produce at a point within its production possibilities f..
a. What price does this firm charge its customers? b. By what factor does this firm mark up its price over marginal cost?
A local lending institution advertises the “51-50 Club.” A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan.
Aside from maximizing profits, assess the factors that managers must consider when making the decision to outsource or integrate forwards or backwards considering which factor would be most influential for decision-making.
Suppose that society decided to reduce consumption and increase investment. A) how would this change affect economic growth B) what groups in society would benefit from this change What groups might be hurt
the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8..
Explain how cross-price elasticity of demand is relevant to a firm being investigated for antitrust violation. If you were the chief economist for this firm, would you want to show a high cross-price elasticity or a low-low cross price elasticity ..
Discuss how the Multiplier leads to closing the gap between equilibrium and full employment. - Discuss why the tax multiplier is different.
Briefly explain the tools that governments have to move the economy from either a recessionary or expansionary gap to the long run equilibrium level.
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