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The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
One of the stumbling blocks of Voice over IP has been the implementation of a 911 service. The given story appeared on the newswires on Tuesday:
Suppose the demand for dollars increases by 300 billion at each exchange rate. Explain if the increase in demand results from a large purchase b the Chinese of a new American-made airplane or a large purchase by Americans of new lower priced Chinese-..
Identify the factors affecting production and costs in the short run to determine which single factor has the greatest impact on the widest variety of companies. Provide specific examples to support your response.
In equilibrium, if the marginal utility per dollar ratio of milk for Aisha is greater than the marginal utility per dollar ratio of milk for Debbie, then the marginal utility per dollar ratio of bread for Aisha must be smaller than the marginal ut..
Consider a country called Hitech where new arrangements for making payments, such as credit cards and ATMs, have been enthusiastically adopted by the population, thereby reducing the proportion of income that is held as real money balances. a) Ass..
Show the Equivalence of tariffs and quotas, This requires three graphs showing the effect of tariffs and quotas in situations of a reduction in domestic supply, a decrease in domestic demand, and an increase in domestic supply
Various economic decision makers exist within an economic system. List and briefly discuss the various role players in the economy.There are four role players
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives of the goverme..
Discuss, with the help of Krugman-Obstfeld-Melitz' AA- and DD-curves, the effects of a contractive fiscal policy (a decrease in government spending) on the interest rate, the nominal and real exchange rates, output and the price level.
A customer quit her job and now runs her own business. Her business an accounting profit of $33,700 and an opportunity cost of $36,700. There is an economic loss of -$3,000. Factoring ceteris paribus what economic advice would you give her
Find the quantity of toothpaste that maximizes economic surplus. What is the relationship between this quantity and the market equilibrium quantity?
George has been selling 5,000 T-Shirts per month for $8.50. When he increased the price to $9.00 he sold only 4,000 T-Shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial a..
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