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1. An economy's production possibilities frontier is also its consumption possibilities frontier. a. under all circumstances b. under no circumstances c. when the economy is self-sufficient d. when the rate of tradeoff between the two goods being produced is constant
What are some of the ethical dilemmas encountered by traders in their pursuit of profits for both their company and themselves?
Calculate the magnitude of the consumer surplus and producer surplus in the pre-tax equilibrium and calculate the tax revenue in the post-tax equilibrium
What are the four major types of markets in microeconomic analysis and what are the key characteristics that distinguish these markets?
If the manager of the open market desk hears that a snowstorm is about to strike New York City, making it difficult to present checks for payment there and so raising the float, what defensive open market operations will the manager undertake?
What is total U.S. government revenue from the tariff and if trade opens up, what will be the quantity of U.S. imports?
Graph the demand and marginal cost curves and calculate and indicate on the graph the equilibrium price and quantity
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
what advice would you give as the economic analysis team and Your client states that it is worth $4,000 annually to be his own boss and not be a butcher any more. Would that change your advice? How and why?
Write down the Lagrangean function associated with this problem and derive the first-order conditions for this problem.
In 1982, nominal GDP decreased by 2% while real GDP increased 4%. What explains the difference between nominal GDP and real GDP? Which is a better indicator of how the economy is performing?
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Will firms in industries, in which high levels of output are necessary for minimum efficient scale, tend to have substantial degrees of operating leverage? Please explain.
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