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Do you favor a laissez-faire approach or government intervention and regulation with respect to monopoly? What are the benefits of your favored approach, in terms of economic efficiency? Is one approach always preferable, or should each monopoly market be evaluated separately?
Does a minimum wage above equilibrium cause unemployment in certain jobs or does a minimum wage narrow the range of wages available in the market by pushing up the equilibrium wage? Explain your view.
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
Exchange in an island economy.robin and terry are stranded on a deserted island and consume two products, coconut and fish. In a day, robin can catch 2 fish or gather 10 coconuts, and terry can catch 1 fish or gather 1 coconut.
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Make a table showing the marginal cost of paper cup productions. What is the minimum price necessary for company to supply one thousand cups?
Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound. She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound.
Discuss the importance and cost of research and development. Does every drug pay off Is strategic behavior important in this market Is product differentiation important in this market
Consider an economy that abides by the classical mode. The production function is unspecified, but we know that the Theory of Distribution (ToD)[W/P=MPN] holds. Suppose there is adrop in the level of capital.
The equation QA= 1/2(12-Q)b) is the so called reation function of duopolist A in a COurnot model becasue given the value of Qb, Qa gives the best or profit-maximizing level of sales of oligopolist A. Show that this is the case with reference. Wha..
Consider the firms short run decision to hire workers. Suppose that a firm produces goods for sale in the perfectly competitive market. labor markets are competitive as well.
International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries. There are also various arguments in favor ..
Explain and illustrate how each of these events would affect aggregate demand, aggregate supply, and prices, then explain how you would respond with economic policies. Please show illustrations showing the movement of the AS and AD curves.
Compute the mean and standard deviation of the damage in any year and determine the expected value of X, E(X), and expected value of Y, E(Y).
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