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If the supply curve shifts to the right what happens to the equilibrium point (ceteris paribus)? If the supply curve shifts to the right, what does the resulting equilibrium point show us in terms of market price and the amount produced (ceteris paribus)?
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
Compute the average product of labor, APL, when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor.
A consumer wants to minimize her expenditures, E= PxX + PyY, subject to maintaining a given level of utility, \bar{U} = xy. form the Lagrangian for this problem, derive the first-order conditions for an expenditure minimum, and solve those conditions..
Elicidate the Consumption and Government Spending equal to what. Would you expect to find out a few relatively large firms or many relatively small company.
In Japan during the first half of 2000, the Bank of Japan kept interest rates at a near zero level in an attempt to stimulate demand. In addition, the government passed a substantial increase in government expenditure and cut taxes. Slowly, Japanese ..
Which of the following statements regarding a price-taking firm is correct?
How will a cut in Government Spending of $300 billion with a MPC equal to .75 impact AD, inflation, and output? Why? Make sure to include the appropriate equations and graph. How does the cut in Government spending impact the budget deficit and the n..
What is an innovation economy? How does it differ from a traditional manufacturing economy?
Explain why the food stamp program can have the same effect on the consumption pattern and well-being of recipients as an outright.
Economists who support minimum-wage legislation are likely to believe that the. Which of the following statements illustrates diminishing marginal utility? Adverse selection--buyers of life insurance will likely have higher than the average death rat..
Donna buys goods X and Y. She can just afford the bundle X = 6 and Y = 11. She can also afford X = 12 and Y= 8. Each of these bundles exhausts her income. Draw Donna’s budget line. What is the ratio of the price of x to the price of y?
Illustrate what is the present macroeconomic situation (e.g. worrying about inflation also/or recession) in the U.S.
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