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Draw the PPF's for Pat and Kris, assume the relevant time period is a 12 hour day. Show the intercepts and slopes for Pat and Kris.Pat and Kris are roommates. They spend most of their time studying (of course), but some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza.
In the aggregate expenditure model, suppose that consumption function is given by C=800+0.58(Y-TP), that planned investment (I) equals 250, and that government buy
Do comparision with the economics of the two following service producing alternatives.
Explain Comparative Advantage, specialization, and trade support by example. Illustrate the invisible hand theorem supported by example.
Make sure to discuss how Facebook has both impacted and been impacted by the technological and other changes that comprise a low-friction economy as well as in terms of supply and demand.
How many bushels of corn are purchased by consumers and at what price? How many bushels of corn are purchased by the government and at what price? How much does the program cost the government? How much revenue do corn farmers receive.
Is it possible that the levels of unemployment present day which are the result of government policies.
Calculate the equilibrium level of real GDP. Does the government succeed in increasing real GDP and calculate the equilibrium level of real GDP.
Explain how relevant to the real world do you believe this result is in the "contestable markets" view of the competitive process.
Give me some information on taxing pollution. Discuss it using the ideas of externality, supply, and demand. How do we determine the optimal level of pollution? Is the optimal level of pollution zero Why or why not
You don't actually have to draw them to answer this question. Just explain in words. OK, you might want to draw them first then explain them.
Illustrate what were the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries, How would you explain their success in their competition with the Dutch.
Explain why this strategy may, in fact, be rational. Also, identify at least two other strategies that might permit Argyle to earn higher profits.
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