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What would be the difference in the bargaining position of an academic medical center and a large tertiary community hospital system? How might state and national governments respond to this expanding phenomenon?
Suppose that demand for good increases and, at the same time, supply of the good decreases. What would happen in the market for the good?
Assume which Sweden also Portugal both produce oil also stained glass. Sweden's opportunity cost of producing a pane of stained glass is 8 barrels of oil.
Explain the relationship between consumer demand and producer supply. The law of demand states that as prices increase the quantity demanded decreases. The law of supply states that as prices increase the quantity supplied increase. Using these two l..
What are the functions of money? What is the difference between fiat money and commodity money? What are the two responsibilities of the Federal Reserve? Please explain how the three traditional tools of monetary policy work in terms of expansionary..
What are some of the benefits of greater National Government authority as opposed to allowing states more sovereignty with an increase in state responsibility? Think about issues like federal health care mandates for states' citizens or immigration l..
What happens to the demand for beer if consumer income rises by 5%? Be specific. Is beer a normal or inferior good? Explain.
At a product price of $52, will this firm produce in the short run. Illustrate what will profit or loss be. Complete the following short-run supply schedule for this firm.
If the company expects to spend $50,000 in the first year of this improvement program, how much of a yearly increase in the cost of the program is the company expecting?
Suppose we now care about the long run decisions of a firm that has a production function of the form q = 4L^1/2 + K. Assume that, at the beginning when w0 = 1 and r = 0.5, the firm chose to produce q0 = 20 units of output. Then, the wage increased t..
In which market will a company arrange to receive currency for a transaction at a future date? The forward market, the currency futures market, the arbitrage market, the forward spot market.
w(h-l) + w'(h-l')/(1+r) = c + c'/(1+r) where c = current consumption, c'= future consumption, l=current leisure, l'=future leisure, and r is the market interest rate. Suppose that the current wage, w=20 and the future wage w'=22. What is the optimal ..
Mike’s Mechanical Men produces radio controlled robots. If its average costs of production are $25, its fixed costs equal $2,500, and it charges $75 per robot, how much revenue must be generated to earn a profit of $5,000?
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