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What is the economic term for productive resources that provide a means for society to produce and distribute its goods and services?
What happens to equilibrium output and the equilibrium interest rate in the short-run, and equilibrium output and theequilibrium price level in the long-run.
Given a 50% learning curve, where the first unit costs is $1,000, the cost of the 4th unit would be: a. $800 b. $250 In the linear break-even model, the difference between selling price per unit and variable cost per unit is referred to as: a. varia..
A machining process produces specialty metal parts used in aircraft. A particular part is designed to be 62 cm in length. The machine is set to cut at 62 cm but the process is stochastic with a mean length of 62 cm and a standard deviation of 0...
Develop a budget and see what happens. Were you successful in balancing the budget? If not, how much of a deficit or surplus did you end up with? What does this exercise tell you about the process of creating a balanced budget? Reexamine the budge..
If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.
Illustrate the impact of food stamps worth $100 compared to a $100 cash transfer on Joe's budget set b. Starting this month, Joe would receive food stamps worth $100 per month. How much more food would he buy this month if food on average costs $2..
recent tax reforms make college tuition partially tax deductible for certain families. This should motivate more people to attend college. How will this higher demand for a college education affect tuition prices how will it affect the cost of the..
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition.
"we oppose a nationsl market for pollution rights, as this would put an undue burden on low-income households who would no longer be able to afford to drive cars or heat their homes. instead, we propose that large corporations be required to reduc..
Intermediate Microeconomics - Budget Constraint: Draw Alan's budget constraint with such promotional campaign.
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
All firms in the industry have identical technology and face the same cost curve: C(Q) = 500 + 10Q + 0.5Q2 . There are 10 firms in the industry.
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