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If consumers perceive several goods to be homogeneous, they believe the goods to be,
a. perfect complements
b. perfect substitutes
c. of poor quality
d. inelastic with respect to price
The fixed cost of running a private practice is $36,000 per year. The variable cost of providing consultation services from this private practice increase by $30 per consultation for any level of production up to 3000 units. The average and marginal ..
Provide an example to discuss how special interests can succeed in perpetuating policies that are opposed by the majority of voters because the costs of organizing and motivating groups to take political action increase with group's size.
Assume that at price index of 154, the quantity demanded of Real GDP is 9,000 billion worth of goods and services. Elucidate do these data represent aggregate demand or a point on aggregate demand curve.
If each of the firms sets its own output rate to maximize its profits, assuming that the other firm holds its rate of output constant.
Utilizing the preceding write equations for total cost, average cost, and average variable cost.
q.suppose that a person regards ham and cheese as pure complements- he or she will always use a slice of ham in
q1. use this information to answer the next three questions. sam sells shavers also alvin sells after cut off. imagine
Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output.
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
A seafood restaurant in a beach resort town has a fixed (unavoidable) cost of $1,000 per month and variable (avoidable) costs of another $1,000 per month.
a. What is the effect on East Asia’s willingness to trade? b. Assuming that each region is large enough to influence international prices, how do East Asia’s good-growing seasons in food affect the equilibrium international price ratio?
The price level in the economy in 2007 and 2008 rose from 100 to 105. In 2008 and 2009, the price level increase from 105 to 110.25. How does the short-run Phillips curve forecast the unemployment rate will change as a result?
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