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The production possibilities frontier model shows that
a) if consumers decide to buy more of a product its price will increase.
b) a market economy is more efficient in producing goods and services than is a centrally planned economy.
c) economic growth can only be achieved by free market economies
d) if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good
The inverse demand for a product is P(Q) = 100 − (1/2)Q. Production is associated with a marginal private cost, MCP(Q) = Q, and a constant marginal external cost, MCE = 25. What is the unregulated equilibrium? (Define in terms of price and quantity...
A friend tells you that you should never be a patient in a teaching hospital because the death rate among patients in teaching hospitals is higher than in other hospitals. Write down a regression equation where the dependent variable is the death rat..
As the baby boom generation begins to reach retirement age and the increase in the life expectancy in the US, people will be receiving Social Security payments for a longer period of time. In your opinion, what should the government do to handle this..
Republican presidential candidate Donald Trump is a multi-billionaire who claims that, if elected, he would run the country like a business firm. Using the economics of the firm, explain why this may not be so.
Conclude cost elasticity of demand at each quantity demanded utilizing formula % chg in QD divided by % chg in cost.
Suppose a monopolist is producing a level of output such that MR > MC. Which of the following best describes what will happen as the firm moves to its profit-maximizing equilibrium? Select one: a. Marginal revenue will rise and marginal cost will fal..
Explain why an industry in a perfectly competitive marketplace would choose to remain in business, if its profit is zero at equilibrium.
Given our current economic situation, determine the steps that the Federal Reserve should take to help stabilize our economy. Then, explain how each of the following variables will be affected by proposed steps that you have identified: money supply,..
q. tco d a software producer has fixed costs of 18000 per month and her total variable costs tvc as a function of
Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective? Respond to at least two of your classmates.
Why is your topic important? What is(are) the policy(s) that you are going to discuss in your paper? Identify the relevant literature
Between 1979 and 1981, the Federal Reserve sharply increased its target for the Federal Funds interest rate. This move was followed by an increase in the unemployment rate. To achieve an increase in the interest rate target, would the Federal Reserve..
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