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Aggregate supply Remember that labor demand provides us profit-maximizing quantity of L for a given real wage. If W/P is given (as it's in cross model), we can find profit-maxi
A brewery produces two kinds of beer, stout and IPA . Each batch of stout sells for $60 per unit while each batch of IPA sells for $108. Both products require malt, hops, barley, f
Jen spends all her income on shortbread cookies (S) and cupcakes (C). Her utility function is given by: U(S,C) = S +2C. Suppose that Jen has an income of $10 and that a cupcake cos
The fact that price and quantity demanded are related negatively illustrates the? a. law of supply b. law of quantity supply c. law of demand d. law of quantity demande
discuss modern theory of determination of rent?
What is the difference between merchantilism and absolute theory?
Tennis-Warehouse recently conducted a study of long distance phone calls made by its employees. The study showed that the length of the calls has a mean of 3.2 minutes, a standard
Q. Define Nominal wages? The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics w
Identify and explain the evidence for and against the competitive model. Provide specific examples.
ihave real gdp per capita for all countries in world .. how can i calculate world real gdp per capita by using the data.
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