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Determine on any market the effect of the following. Do each separately (on a separate graph) starting from an initial equilibrium position for each one. 1. increase in income
Consider the following: An economy is found to have output, y = 20000 Also assume that the government runs a deficit where tax revenue T= 4000 and government expenditures G=5000
Explain the law of diminishing marginal returns using the example of a factory which is currently running at half capacity and employs more staff
How can we answer in Economic terms this questions: Why should the government consider to increase tax on cigarette
what are the implications of corruption in economy and fiscal policy
Q. Describe Supply and demand in macroeconomics? In microeconomics, we are careful to distinguish between demand, supply and observed quantity. The first two are hypothetical c
Explain, using the best framework you can think of (based on our class discussion), the effect of a large federal deficit on interest rates.
A recent study of long distance phone calls made from WPU, showed that the length of the calls follows the normal probability distribution with a mean of 3.2 minutes per call and a
Suppose three identical firms are engaged in Cournot competition in quantities. They all have marginal costs equal to 40. Market demand is given by: P(X) = 200 - X = 200 - (x
what are some internal market forces and how is the outcome of output, jobs, prices, growth, and international balance
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