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Law of Supply and Demand at Sunrise Surf Shop
Sunrise Surf Shop is willing to produce 35 surfboards in a month if it can sell each board for $400. If it can receive $700 for each board, the shop is willing to produce 75 surfboards. This is an example of the law of supply. Do you agree or disagree?
John is willing to purchase 3 computers when each computer costs $600. If the price is $250 for each computer, John is willing to purchase 7 computers. This scenario displays the law of demand. Do you agree or disagree?
Discuss how each of the following developments would affect the supply of the money, the demand for money, and the interest rate. For each case, describe what happens in closed economy and in small open economy. Describe your answers with diagrams.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Explain how would each economist explain unemployment and what policies would each advocate.
President Obama pushed his massive fiscal stimulus package of $787 through the Congress and later passed by the House and Senate, whose centerpiece was spending most of this stimulus funds
Explain how do the fiscal policy changes play a role in the theory of political business cycles
In providing assistance to the states like Washington has in the past attached strings which have dictated state legislation.
In this age of globalization, boundaries between firms and boundaries among marketplaces are hardly ever distinguishable.
Decreases aggregate quanity demanded among a stationary aggreate curve. E rases the equilbrium level of output and employment.
Two identical firms face linear demand. Market demand is given by P=30-Q. Compare graphically consumer and producer surplus in Cournot and Stakelberg equilibria to perfect competition.
Which of the following is the best example of a monopolistic competitor? Firms in a monopolistically competitive industry produce:
Explain how would you justify the long-term nature of your contract with CGI Group.
Illustrate what is the arc cross elasticity of demand among Future Flight's and Soaring Free's frisbees
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