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Define explicit costs and implicit cost. Give two examples of each. What is included in an economic profit? what are some explicit an implicit costs of attending college? what about owning a business?
Suppose that the monetary authority wants to keep the nominal interest rate, i, constant. Assume that the real interest rate, r, is fixed. However, the real demand for money, M^(d)/P shifts around a great deal. How should the monetary authority vary ..
Determinant of bordered Hessian matrix is 57,600. F. If income went up by $1.00, by how much would utility rise.
(Figure: Corn and Watches in the United States and Canada) Referring to the graphs, we see that _____ has the comparative advantage for corn and _____ has the comparative advantage for watches.
Rent control is a form of government imposed price controls. How can rent control distort the market for apartments? Be sure to explain rent control by using your understanding of price ceilings and price floors.
If a governments money is backed by gold and global instability causes its mint parity rate to become too high and as a result the country falls into a depression, can the governments central bank fight the recession by increasing the money supply? E..
International data show a positive correlation (i.e, relationship) between political stability and economic growth. Through what mechanism could political stability lead to strong economic growth? Through what mechanism could strong economic growth l..
Discuss the basic economic principle supply and demand in verifying that studies have shown that when patients bear a higher portion of the cost for individual clinical decisions, they choose less costly treatments. If a social medical model is imple..
What is the difference between diminishing returns and decreasing returns to scale? Why are cost curves U-shaped in the short run?
what is the derivative dQ/dP at P = $1? d) For each demand curve, what is the point elasticity dQ/dP at P = $1?
Fulkerson Manufacturing wishes to maintain a sustainable growth rate of 8 percent a year, a debt-equity ratio of .45, and a dividend payout ratio of 30 percent. The ratio of total assets to sales is constant at 1.3. Required: What profit margin must ..
q1. a war breaks out which destroys industry facilities including factories machine etc. explain how explain how this
Briefly explain the characteristics (or properties) of equilibrium in the Cournot Model and the assumption under which it is achieved.
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