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Say that a person has observed the following: family farms in a developing country tend not to consider family labor which is used to work the farm (weeding, harvest, etc) as a cost: that is, family farms in a developing country tend not to value family labor. And say that there are no other costs involved in farming. In addition, assume that every family farm sells all of its output to a local market in which it has a monopoly. Furthermore, assume that the family consumes none of its own farm product. In this case, what is the elasticity of demand at the level of output chosen by this profit maximizing family farm?
Find an article in a business journal and 1st summarize the facts presented in the article and then relate these facts to some microeconomics/macroeconomic concept that you discovered in the reading.
Illustrate what are some polices the U.S. government could take to increase U.S. economic growth.
The demand curve for French plutonium shifts outward, at about the same time as the appearance of the foreign-exchange dollars. Illustrate what happens to the demand for French Francs.
when potential output grows 4 percent per year. Suppose also that the Fed is following the Taylor rule, with an inflation rate of 2 percent over the past year. The federal funds rate is currently 3 percent.
Illustrate what effect a contractionary fiscal policy have on the price level and real GDP.
Suppose the government cuts its purchases by $120 billion. As a result, budget deficit is reduced by $40 billion, private domestic decreases by $10 billion,
Explore how a firm determines the optimal scale of a plant for a given rate of output and why this determination relates to longer run strategies versus current operations. Also, discuss the differences between economies of scale and economies of ..
What are the percentage increases in the price of food and in the price of clothing and what is the percentage increase in the CPI?
Determine what are economic decisions made in tradition, command and market economies and what are the pros and cons of each?
Supposed that it costs $400,000 to build the new store and assume that the new store will generate revenues of $450,000. what is the rate of return on this investment.
What is the major problem in achieving an efficient use of the world's water If there were a global market in water, like there is in oil, how do you think the market would work Would a free world market in water achieve an efficient use of the ..
An early goldsmith banker earned a profit (sometimes a large profit) simply by writing notes to certify that a person had deposited a certain amoumt of gold in his vault. By writing more notes than the amount of gold held
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