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1. What factors can contribute to unemployment?
2. How can technology lead to greater unemployment, or is it a benefit to the economy?
3. Con inflation cause or effect unemployment? How?
Analyse a range of current economic issues and problems and develop and communicate economic arguments in a variety of forms.
Summarize the differences between the four market types. Provide a general explanation of how business may maximize profit within each market type.
n a competitive market, all customers pay the similar price for the goods and services. Using the idea of consumer surplus, describe why each individual would be willing to pay a higher price
A lawyer who drives a beat-up car and wears frumpy dresses may have a hard time getting customers. Potential clients may conclude from his appearance that he is poor, and if he is poor, he probably is not very good.
New Light Corporation has just created a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, New Light is expected to experience a 15% yearly growth rate for the next 5 years.
Assume that the banking system's nonborrowed reserves total $48.3 billion, with total legal reserves standing at $51.2 billion. What must lent reserves be?
Assume that the competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Suppose that the market price of the firm's product is $9. Find out level of output will the firm produce?
Which of the following is a characteristic of both monopolistic competition and perfect competition?
What is your monthly loan payment? What is your yearly loan payment and what is your yearly depreciation? What is the book value of the property at the end of ten years?
State the commodity in which each country has absolute advantage and identify the commodity of comparative advantage for each country
Public utilities such as electricity are referred to as natural monopolies and are often subject to regulation by a state authority
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
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