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In the exogenous growth model what are the effects on the steady-state consumption and capital-labor ratio of an increase in the savings rate and of an increase in the population growth rate? Give a graphical illustration of each effect on the steady state.
discouraging stores that sell Nintendo from selling competing games-for instance, by not fulfilling their orders as quickly, especially in periods of shortages. Explain why these practices might increase Nintendo's profits.
Suppose there is a risky stock which returns $4 with probability 0.5 and 0 with probability 0.5 for every dollar invested. Suppose for every dollar, I invest a share x in A and (1-x) in risk free government bonds.
If the price of blue toy cars is $5 and the price of pink toy cars is $2, then which of the following consumers will make the same choices if their income is the same (assuming maximization of income) Gloria, utility is U(b,p) = b^2 * p
The opportunity cost would be $200 in forgone wages for the ten hours he worked planting $100 in seeds, right The accountant would measure revenue-explicit cost= profit The economist would measure revenue- explicit and implicit cost=profit
For Question 1-8, consider a competitive market for a good where the demand curve is determined by the demand function: P=5-QD and the supply curve is determined by the supply function: P=QS. Where P stands for Price, QD is quantity demanded and ..
You win $100 in basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now
Would there be strong intertemporal substitution of leisure in using the parameters given in part ( a )? Why or why not?
The price elasticity of demand is -2.0 The income elasticity of demand is 1.5. The cross- price elasticity of demand between your good and related goods is - 35 What can you determine about consumer demand for your product from this information
Is demand elastic or inelastic in the $4-$6 price range How do you know (b.) If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 100 units to 300 units
If the State University basketball team continues to do very well in future years, what is likely to happen to the price elasticity of supply of tickets to its games? Briefly explain.
Consider the following demand schedule. Does it apply to a perfectly competitive firm Compute marginal and average revenue. Price Quantity Price Quantity Suppose the marginal cost of producing the good in is a constant $10 per unit of output.
Given below are the cost schedules for a perfectly competitive firm. Average Average Variable Total Marginal Quantity Cost Cost Cost 1 $ 50 $ 90 $ 50 2 45 65 40 3 40 53 30 4 35 45 20 5 34 42 30 6 35 41 40 7 37 43 50 8 40 45 60
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