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What are the goals of an economic system? What is the criterion to measure the effectiveness os a system? What are monetary goals? What are the fiscal goals? How do governments influence monrtary and fiscal goals?
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so, why?
All points on the SP curve (but not on the LP line) share the characteristic that the economy is not in the long-run equilibrium because
Suppose that the demand in a particular industry is given by Qd = 100 – 2P. When the market price in the industry is $10 per unit, what is the total quantity demanded in the industry? If you assume that each of the four largest firms in the industry ..
Describe the Stolpher-Samuelson theory of trade. How does it differ from the factor endowment model? What are its predicted effects on wage-inequality in (a) industrialized countries that are capital-abundant and (b) developing countries that are lab..
you are given the following functions in a fully competitive marketmarket demand function qd 20 - 3p market supply
The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force in 150 million. Illustrate the number of unemployed workers in this economy.
which planet has the comparative advantage in coffee? in fried chicken?
Describe the budget constraint which she faces when deciding how many drinks to buy.
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Imagine you are running a firm with the characteristics of a perfectly competitive firm. Describe ..
q.the following equations describe a small open economy. figures except the parameters are in millions of dollars. c
The perfectly competitive DVD copying industry is composed of many firms who can copy five DVDs per day at an average cost of $10 per DVD. Each firm must also pay a royalty to film studios, and the per-film royalty rate (r) is an increasing functions..
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