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Suppose that the Japanese yen rises against the U.S. dollar-that is, it will take more dollars to buy a given amount of Japanese yen. Explain why this increase simultaneously increases the real price of Japanese cars for U.S. consumers and lowers the real price of U.S. automobiles for Japanese consumers. 6.The price of long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per minute in 1999, a 45-percent (18 cents/40 cents) decrease. The Consumer Price Index increased by 10 percent over this period. What happened to the real price of telephone service?
Show the change in Q if L changes from 1 to 2, and 2 to 3, and does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?
For each of the following state whether you would make an aggregate demand or aggregate supply diagram and forecast what shift each condition would cause in the AS or AD curve and why so.
Microsoft Monopoly--Why was Microsoft investigated for antitrust behavior Do you agree or disagree that Microsoft was trying to gain monopoly power in the computer software industry Are monopolies always bad
Production costs chargeable to the finishing department in June for the Cascio company: Materials: $16,000, labor: $29,500, overhead: $18,000, equivalent units of production/materials: $20,000, conversion costs: $19,000
explain how rent seeking can lead to a drop in production of goods and services. what role might the underground economy play in lessing the drop in productie activities.
Which statement best characterizes Adam Smith’s concept of the “invisible hand”. Those who don’t work shouldn’t eat or else.
For a given price P =$5, AVC = 3 and FC =20000, what is the DOL if the manufacturer id producing 15000 units. Using the DOL value calculated above what is the profits for a 10% increase and a 10% decrease.
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Since a monopoly is the only source of supply, customers are entirely at its mercy. There is no limit to the price the monopoly can charge.
Opportunity cost – faced by any company or country or government in choosing something and leaving other alternates For example – delay in setting up broad band in Australia or not building up infrastructure like high speed rail, roads, housing or po..
A country has had a steady value for its floating exchange rate (stated inversely as the domestic currency price of foreign currency) for a number of years. The country now tightens up on (reduces) its money supply dramatically.
What is the range of possible Relative Wage Ratio under which trade based on comparative is mutually beneficial and who has the absolute advantage at producing Cigar?
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