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Suppose a consumer is consuming a bundle of goods X and Y which lies on their budget constraint. If the indifference curve which runs through this bundle is steeper than the budget constraint, explain what the consumer could do to increase their utility.
What is the dissimilarity in the Production Process between Short Run and Long Run and give a fictitious example. In your example what was the defining a moment when the Production Process shifted from Short Run to Long Run?
How much cyclical unemployment does the economy have to experience to have inflation rate of 2% and What is the sacrifice ratio?
What is the price you would expect in your local area if the futures price is an accurate forecast of the Chicago price for when you plan to sell your wheat?
Based on this conclusion and discussing the source and derivation of income principles, state which amounts would be included in his assessable income for the year. You do not need to consider the consequences of any Double Tax Agreements.
branding iron products a specialty steel fabricator, operates a plant in the town of west star, texas. the town has grown rapidly because of recent discoveries of oil and gas in the area. many of the new residents have expressed concern at the amo..
For each of the following situations graph the supply and demand curves for the loan market, for the bond market and show the primary movement in the curves as a result of the given action. Show the effect this would have on interest rates, bond p..
Calculate total deadweight loss if the industry is run by an unregulated monopoly - Calculate the price/output combination, total economic profits, producer surplus, and consumer surplus that would result if competitors enter the market that make t..
On a graph draw Joe's budget line with books per week on the vertical axis and apples per week on the horizontal axis. Label your graph carefully and include the numerical values of the y-intercept and x-intercept. Write an equation for Joe's budg..
in the 1990s pfizer inc. developed a new antibiotic called trovan trovafloxacin mesylate. tests showed that in animals
Why would more accurate economic forecasting make it easier for policymakers to stabilize the economy? Describe two ways economists try to forecast developments
Presume the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.6, and a typical gasoline retailer enjoys sales of $1,450,000 annually. What is the price elasticity of demand for a representative gasoline reta..
What explains the relative stability of the price of gold from 1968 to 1971? What implications do the movements in gold prices since 1971 have for an attempt to reestablish a gold standard?
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