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During large flu outbreaks (Think H1N1 in 2009), the demand for hand sanitizer usually increases dramatically (3-4 fold!). When this happens, should Johnson & Johnson increase production of their Purell hand sanitizer? Should it invest in doubling production capacity?
Consider a market with a demand curve of P=24-2Q and a supply curve of P=3+Q. Calculate Consumer Surplus. Consider a market with a demand curve of P=24-2Q and a supply curve of P=3+Q. Calculate Total Surplus. Consider a market with a demand curve of ..
Use the IS-LM, AD-AS model to illustrate the short-run and long-run effects of an unexpected decrease in the money supply. [Assume that the economy moves immediately to the new intersection of the IS & LM curves.] Repeat part a assuming that the decr..
Analyze the various means of taxation available to finance the government and evaluate the alternatives to taxes. Identify if there is an economic limit to the extent to which the government can increase taxes. Justify your response.
Please identify a particular industry (non-government) that meets the criteria for Pure Competition or Monopoly. Explain clearly why you think the industry is in Pure Competition or is a Monopoly and evaluate it from perspectives of efficiency and eq..
Scarcity is the main reason we are studying economics. Scarcity exists when human wants exceed available resources. Write a four paragraph post that explains the difference between a want and a need? Please give five examples for each of these two co..
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed? Should the Fed remain independent from political authority or should the President and Congress have a say in ..
The president of the United States explains that it is necessary to impose trade restrictions, such as a tariff, on the steel-rod industry to protect workers in the domestic steel-rod industry. The president claims that without trade protection, ther..
Explain how can tax cuts help revive the economy.
Using AD/AS analysis shows graphically the difference in how an economy initially in general equilibrium would respond to a negative AD shock due to central-bank action (i.e. a change in inflation target) assuming (i) adaptive expectations or (ii) a ..
The market demand is P=100-1.5Q and marginal & average costs are constant at 10 (MC=AC=10) find the monopoly price and quantity. Find the perfect competition price and quantity. Calculate profit, social welfare (consumer and producer surpluses), and ..
Illustrate what is your suggested mix of pricing also non-pricing strategies
Use the above graph to construct a production possbililites curve placing corn on vertical axis and paper on the horizontal axis. What is the marginal opportunity cost of producing the first unit of paper? The marginal opportunity cost of producing t..
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