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Explain how it can be analytically sensible to have a temporary increase/decrease in technology. Explain under which conditions/assumptions this would be very difficult to assert.
Compare and contrast the four market structure models: Monopoly, Oligopoly, Monopolistic Competition, and Perfect Competition—including, but not limited to, assumptions/characteristics of each model, profit maximizing price/output combinations, short..
If the money supply is growing at 8%, the real rate of growth of GDP is 2%, and financial innovations are reducing the demand for money by 0.5% per year, what should the long-run inflation rate be?
Discuss the following statement: Whenever the output is below potential and the government has a fixed exchange rate policy, it can use monetary policy to stimulate the economy and bring it back to full potential.
Suppose that four 85-octane gasoline pumps and three 89-octane gasoline pumps provide as much profit at a local convinience store in five days as three 85-octane pumps and five 89-octane pumps provide in four days. Which gasoline pump produces greate..
If the financial plan is believed to be extremely accurate, then the amount of financing would be
Consider a first-price sealed-bid auction with three players: Betsy (B), Daniel (D) and Michael (M). Their valuations are vB = 100, vD = 90, and vM = 30, respectively. If their bids are bB = 90, bD = 30, and bM = 0, respectively, show that this NOT a..
Find a pop culture reference (from TV, movie, music, magazine...) of an economic concept. The reference can be anything we have covered in class.
According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
Comment on the following statement: “When aggregate demand falls below the current output level, an unintended inventory accumulation occurs and the economy is no longer in an equilibrium.”
Explain how they will help to improve the GDP as a tool for measuring the well-being of a nation.
The United States simultaneously limits imports of ethanol for fuel purposes also provides incentives for the utilize of ethanol in gasoline which raise the price of ethanol by about 15 percent.
Define marginal utility. Explain the law of diminishing marginal utility. Why is marginal utility more useful than total utility in consumer decision making?
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