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Using appropriate diagrams,
a. Show how a monopolistic firm can achieve to obtain supernormal profit.
b. Show that a unit tax imposed on the good produced by a monopolist decreases the monopoly profit
c. Show the effect of a "rent ceiling" in house market. Suppose that the house market is initially at the equilibrium, what will be the short and the long run effects of an increase in demand if the initial equilibrium rent level kept as a rent ceiling.
Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..
create a plan for economic moat
Describe and critically evaluate the use of real GDP and the unemployment rate to track macroeconomic performance over the business cycle. Discuss current data on these variables.
following would most likely increase the price of automobiles
The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. then what is the equilibrium output of the good.
suppose idaho could not export its potatoes to other states and countries. would idaho be better off? explain. would
Rosalie, a wealthy widow, invited an acquaintance, Jonathan, to her home for dinner. Jonathan accepted the offer and, eager to please her, spent lavishly in preparing for the evening. His purchases included a new blazer, new shoes
the bank you own has the following balance sheet 2 pointsassets liabilitiesreserves 75 million deposits 500
Wisconsin is an important milk-producing state. Some people might argue that because of transportation costs, the cost of milk increases with the distance of markets from Wisconsin. Suppose the milk prices in eight cities are as follows.
Select a business or other organization with which you are familiar, one you work for or have considerable knowledge about - Identify and explain two ethical principles that might be applied to solving this problem.
Suppose households unexpectedly increase consumption and the central bank keeps the interest rate fixed. Which of the following will occur as a result of this consumer optimism?
When was the last scheduled meeting of the FOMC?
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