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Suppose that the firm's initial demand curve had been P = $5,000 - 50Q and that it shifted inward to P = $4,000 - 50Q. Assume MC = $500. How would this shift in demand affect the firm's profits?
Discuss the direction of change in price, quantity, and average total cost that you expect. Then check your answer by calculating price, quantity, and profit. You can refer back to graphical problems you solved in this news analysis to observe the change in average total cost.
Discuss the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries? How would you describe their success in their competition with Dutch?
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Imagine the economy is in a deep recession and the government decides to increase spending significantly (without raising taxes). Describe what will happen in the economy, using The Aggregate Demand-Aggregate Supply Model.
1. consider a world in which prices are sticky in the short-run and perfectly flexible in the long-run. appp may not
whether or not the measure satisfies each of the five axioms we discussed (Anonymity, Scale Independence, Population Independence, Transfer Principle and Monotonicity). [ Note: a good way to do this might be to come up with small example populatio..
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
Consider a company that uses two inputs. The quantity used of input one is denoted by x_1 and quantity used of input 2 is denoted by x_2.
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant; finally, at very high out..
What must occur to Aggregate Demand and Aggregate Supply in order for the U.S. economy to experience an increase in Real GDP,and at the same time, not experience a significant increase in the price level
Why do economists pay little attention to the algebraic sign of the elasticity of demand for a good with respect to its own price, yet pay careful attention to the algebraic sign of the elasticity of the demand for a good with respect to another g..
In the money market, money supply is determined by the central bank, such as the Fed in the U.S. Because of this, money supply curve is usually vertical in the short run, while the money demand curve is downward sloping. The quantity demanded of m..
Currently, what indictors are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?
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