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Assume world oil supply is 71 million barrels per day at a price of $54 per barrel. Suppose that if the price per barrel of oil increases to $56 per day, then 82 million barrels of oil will be supplied.
Using the midpoint formula, what is the price elasticity of supply for oil?
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time
In the early part of the past decade, there was an overproduction of coffee. The value dropped so low that manufacturer' costs were higher than the market value.
How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
Suppose you are reviewing an isocost graph. The axis on the graph shows capital units on the vertical axis, and labor units on the horizontal axis.
What is the business cycle and how is it linked to a secular trend? Describe each of the four phases of the business cycle and indicate how they a linked to the concepts of a "boom", a "recession" and an "expansion".
Two indicators of economic development include Gross Domestic Product (GDP) and the Human Development Index (HDI). What is the difference between these two ways of measuring levels of economic development?
Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following ..
Illustrate the infant industry argument for putting up barriers to imports. What are its merits and weaknesses.
calculate the expected value of each investment. draw a bar chart for each investment. calculate the standard deviation of each project. Determine which of the two investments the investor should choose.
Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.
Illustrate what is the price elasticity of demand of a representative gasoline retailer's product.
There are several ways that mutual funds can generate returns for investors. Compare and evaluate these different types of income and evaluate their tax effect.
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