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Technical
Suppose that actual output is $120 billion and potential (full-employment) output is $156 billion. What is an output gap in this hypothetical economy? Based on your estimate of the output gap, would you expect the unemployment level to be higher or lower than usual?
The purchase price of a natural gas- fired commercial boiler (capacity X) was $181,000 eight years ago. Another boiler of the same basic design, except with capacity 1.42X, is currently being considered for purchase. If it is purchased, some optio..
Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equilibrium, and that the price of each candy cane is $0.10. Now suppose that the price of sugar rises, increasing the margi..
Now what will your price be? How much deadweight loss will your firm create?(d) After the election, you decide your firm is not making enough money. So you hire the lobbying firm C&E. C&E are able to convince regulators that you should set ..
Assume the following values for figure 5.4a and 5.4b. Q1=20 bags. Q2=15 bags. Q3=27 bags. The markets equilibrium price is $45 per bag. The prices at a is $85 per bag. The price at c is $5 per bag.
How many atoms of each type are there per unit cell?
A small nation permits free trade in good X. At the good's free-trade price of $8, domestic firms supply 6 million units and imports account for 4 million units. Recently the small country has ereted trade barriers with the result that imports hav..
a cupola for a foundry was purchased for 3000.500 more was spent on its erection and commisioning.the estimated
Two firms can control emissions at the following marginal costs: MC1 = 200q1, MC2 = 100q2, where q1 and q2 are the amount of emissions reduced by the first and second firm. Assume with no control each firm would emit 20 units or a total of 40 unit..
he Einstein Bagel Corp. offers a frequent buyer program whereby a consumer receives a statmp each time she purchases one dozen bagels $5. After a consumer accrues 10 stamps, she receives one dozen bagels free.
Consider the following data on U.S. GDP: CHAPTER 15 MEASURING A NATION'S INCOME 327 Nominal GDP Year (in billions of dollars) 2009 14,256 1999 9,353 GDP Deflator (base year 2005) 109.8 86.8 a. What was the growth rate of nominal GDP between 1999 an..
How many workers would the firm hire if the going wage rate were $27.95 How many would it hire if the wage rate were $19.95 Why would the firm not hire more (or less) than the numbers you have chosen
You are the manager of a firm that receives revenues of $ 30,000 per year from product X and $ 70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross- price elasticity of demand between product
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