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What components of GDP (if any) would each of the following transactions affect. Explain. A family buys a new refrigerator, You buy a pizza, California repaves Highway 101, Your parents buy a bottle of French wine.
describes the market structures of oligopoly and monopoly in terms of number of producers, types of products produced, barriers to entry, and whether profit can be made in the short or long run.note whether oligopolies and monopolies are bad or..
A study of costs of electricity generation for a sample of 56 British firms in 1946-1947 yielded the following long-run cost function: 16AVC = 1.24 + .0033Q + .0000029Q2 - .000046QZ - .026Z + .00018Z2
Select a product you have purchased in the past month from a clothing or shoe store. Explain how each of the four factors contributed to the elasticity of the good.
Critics of the minimum wage discuss that as an antipoverty device it is "poorly targeted." By this they mean that:
Imagine a local government is considering opening a public swimming pool in a residential neighborhood
Among the 4 principal market structure models, monopoly and oligopoly offer best opportunities for the firm to earn economic profits in the long run. What are some strategies for firm which is earning economic profits to legally sustain them over ..
Give some examples of waiting lines in everyday life. What decisions should managers of such systems consider? Try to consider the production line as well as waiting in the queue.
Assuming the company will remain a "going concern" indefinitely and that the interest rate will remain constant at 10 percent, at what constant rate does the owner believe that profits will grow?
With regards to the changes within the economic structure, how do politics and government regulation factor into the changes we see to economic activity on both a domestic and global scale What actions have either helped or hindered our progress
While greater access to imports may be beneficial from a microeconomic standpoint (people have greater range of goods to choose from, and available at a lower price) the macroeconomic view of things may be a little different.
The inflation rate over a 10 year period for an item that now costs $1000 is shown below Year 1, 10% Year 2, 0% Year 3, 10% Year 4, 0% Year 5, 10% Year 6, 0% Year 7, 10% Year 8, 0% Year 9, 10% Year 10, 0% What will be the cost at the end of year 1..
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
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