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Suppose that a country is producing on its PPC at a point to the left of the tangency between the trade line and the PPC. At the production point,
A. the opportunity cost in production of the good on the vertical axis is less than its trade price.
B. the opportunity cost in production of the good on the horizontal axis is more than its trade price.
C. the opportunity cost in production of the good on the vertical axis equals its trade price.
D. the opportunity cost in production of the good on the horizontal axis may be either less than or more than its trade price.
E. the opportunity cost in production of the good on the horizontal axis is less than its trade price.
Steven consumes only two goods, both of which are normal goods. He is maximizing his utility in consumption of both goods. Now assume the price of one of the goods increases. How should Steven's consumption change?
Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how would t..
can you suggest better methods of making the adjustments for the stated purpose. llustrate what general guide can you suggest as to elucidate how much price should be increased
Using the results from previous question (the equilibrium price and quantity), which of the following is true or false? Explain (10 pts., 2.5 pts. each). Equilibrium quantity decreased by 4 units.(explain)
In Japan during the first half of 2000, the Bank of Japan kept interest rates at a near zero level in an attempt to stimulate demand. In addition, the government passed a substantial increase in government expenditure and cut taxes. Slowly, Japanese ..
q.for this assignment you are to continue using the fortune 500 verizon wireless company. the focus here is on its
Suppose a monopolist faces demand of Q = 300 – 2P and has a total cost curve of TC = 75Q + Q2. What is the firm’s marginal revenue? What is the firm’s marginal cost? Find the firm’s profit-maximizing price and profit.
What are the key limitations of per capita national income as a concept of well-being? Explain the nature of limitation in each case. Which of these limitations can be adjusted for? Are they in fact adjusted? What is the basis of the concept of huma..
Suppose the government decides to increase taxes by $50billion and to increase transfer payments by $50 billion. Illustrate what effect would there be on aggregate demand.
If you have a perfectly competitive industry of 100 firms with a monthly demand curve of Q=1000-P and TC=Qi^2+100Q+100, a subsidy of $36/month, a long-run equilibrium (before subsidy) of P=140, Q=860 (each firm produces 5 units) and a long run equili..
When unwanted inventories pile up in the stores, how is production affected? What are the steps in the process?
Estimates of regression coefficients are most commonly obtained using OLS, ordinary least squares. Assume that we are interested in the relationship between Y and X and study this relationship by estimating the regression
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