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What are the important tools of making decisions?
Making Decisions:
a. How economists model decision making through individuals and firms
b. Implicit costs and Explicit-Costs during decision making
c. Different between Accounting Profit and Economic Profit
d. The Principle of Marginal Analysis
e. Making decisions about Sunk Cost
f. How to make decisions at certain conditions where time is a factor
market structurs
The demand for nominal balances rises with the price level. At the similar time inflation causes the real demand for money to fall. Describe how these two assertions can be both co
Consider the following model of an economy that begins in a macro equilibrium,
How much more did the average household spend on appliances, electronics, and furniture when it received the 2008 tax rebate? (b) If all 110 million households did so, how much did
"No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim." (a) Explain between
The AD curve is the aggregate demand The AD curve is the aggregate demand as a function of P whenthe goods and money market are both in equilibrium
It is sometimes asked whether credit cards are money since many purchases are made using these. Credit cards are a means of obtaining credit and using this to finance expenditure,
There is only one least-cost way to make wooden boxes for shipping tomatoes, and any firm that makes them has a cost function given by 2 TC q q = + + 200 .005 .The inverse market d
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This problem revolves around determining the LM curve, as we did earlier in the term such that money demand (M D ) equals money supply (M S ), however in this instance under differ
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