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Questions:
1. Define the unique characteristics of perfect competition. Does perfect competition exist in the real world?
2. How do monopolies maximize profits?
3. What are the unique characteristics of monopolies?
q.assume which wall-world and turbo are independently deciding whether to implement a new bar code technique. as
Using the classical model of chapter 3, suppose taxes decrease by $100 while government spending is constant. Also, the marginal propensity to consume is 0.90. For a, b, and c below, tell how much each of the following change, if at all, and in which..
In 2010, 500 radios were produced and 100 computers were produced. price of radio was 100 and computer was 1,000. In 2015, 550 radios were produced and 900 computers were produced and price of radio was 150 and price of computer was 400 Compute the p..
Suppose that, initially, the Michigan economy is in equilibrium with no unemployment. The supply of workers is ES = -1,000,000 + 200w, and the demand for workers is ED = 16,500,000 – 300w, where w = annual wages, and E = number of employed workers.
What factor determines how firms can pass on costs or retain profit shares from sales of a product when key input prices fluctuate? Give an example.
Using a simple model of the expenditure sector without any government involvement, explain the paradox of thrift that asserts that an increased desire to save may not lead to an increase in actual saving.
How can an event such as the terrorist attacks of September 2001 affect consumer and business confidence and the economy?
If the elasticity of demand for a product is estimated to be about 0.4 at around the current price of the product
Given the current condition of the US economy, do you think US policy makers would prefer to see the $ rise in value, decline in value or stay at its current value? Discuss the advantages and disadvantages to the US economy at this time of a stronger..
What is the best way to resolve structural unemployment example: (unemployed coal miners in West Virginia). Discuss both a solution and a way to fund.
In economics context. Researchers face less than ideal data when carrying out empirical work. Discuss. What should researcher do?
What does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?
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