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The U.S. Entergy Information Agency supplies current and historical data for world crude oil prices. Look both at current and historical data on world crude oil prices. Over the last six months, do you think the price of crude oil has produced an upward or a downward supply shock, or neither? How can you tell? Looking at historical data, when did the most recent oil-related supply shocks occur?
Assume that in the perfectly competitive industry the equilibrium industry quantity is 10,000 units. Assume that the monopoly output is 5,000. For a 2-firm Cournot Oligopoly (N =2) known as a duopoly, what is the likely Cournot QUANTITY for the in..
Consider the utility function \(U(x,y) = y\sqrt{x}\) a)Does the consumer believe that more is better for each good? b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?
International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries. There are also various arguments in favor ..
Based on the Coase theorem, if private parties can bargain without expense, then the private market will solve the problem of externalities
The Principal can invest in monitoring to improve the precision of the performance measure,according to the monitoring technology
How the Balance Sheet for Bank Z would look like after it loans out its Money to Mr. Chansa and suppose Mr. Chansa Deposit his Money into Bank-B, How would the T- Balance sheet look like for Bank- B
How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?
Determine the profit maximizing price and quantity and socially efficient price and quantity and If the company is offered the contract, should it build the bridge? Why or why not?
If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same What if productivity increases more than nominal wages
You are the manager of a large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months. Following are the average negotiated prices for each month and quantities sold ..
Assume that the demand and supply curves for eggs for the United States are given through the following equations:
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