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Marginal Analysis
Explain the economics behind why the marginal cost of production must increase if the marginal product of the variable resource is decreasing. Remember to incorporate a mathematical explanation.
Also identify and discuss the flows that are created when Government enters the circular flow.
Economic and Ethical Issues of Pricing Assignment Description
Calculate the MRS or the marginal rate of substitution between X and Y. How much X and Y will Sam buy to maximize his utility given his budget constraint and the prices of X and Y?
Discuss the short run and long run implications of the explanation for the aggregate economy.
Suppose that the market demand for medical care is summarized by the following: p=400 and the market supply is summarized by the following function: p = 50 +3Q health insurance is made available with not deductible and a 25% coinsurance rate. Calcula..
Price elasticity of demand is constant along a linear demand curve. If a 10% fall in the price of bagels results in 20% increase in the quantity of bagels demanded, then the price elasticity of demand of bagels is 0.2. Price elasticity of supply is c..
Economic regulation involves government intervention in certain industries to make sure that there are fair practices that are being exercised. Both quotas and tariffs protect the domestic market and it protects domestic producers. Air pollution is a..
If the percentage change in quantity demanded is less than the percentage change in price, we would say that over this range, demand is:
Labor markets are characterized by asymmetric information because
The version of Okun’s law assumes that with no change in unemployment, real GDP (RGDP) normally grows by 3 percent over a year. If RGDP last year was $12,375 and the unemployment rate fell by 1 percentage point from last year to this year, what would..
Illustrate the effects of the following events on the dollar-peso exchange rate, i.e., the value of one peso in terms of dollars. label the axes and explain how you arrived at your answer. (Hint: the x-axis should be labeled “pesos” and the y-axis la..
Elucidate how would you argue your case, both in terms of opportunities also necessary local adaptations to successfully enter the region or further develop your presence.
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