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The demand for the product of a business is given by q = 50 - 2p. If the price of the product is p = 10 dollars, the revenue is
100 dollars
200 dollars
300 dollars
500 dollars
Now suppose as a result of a mandated increase in the minimum wage the wage increases to $80. What would be the implication of this change for this firm?
Illustrate what is the change in quantity of money that will eventually result. Assume that the currency drain in 0.15 and the desired reserve ratio is 0.05, and show your calculations
Who is hurt and who is helped by an increase in the legal minimum wage? Under what circumstances might a higher minimum not reduce employment?
Summarize the pros and cons of fixed and floating exchange rate systems. Some countries have gone to the extreme of "dollarizing" their economies. What is "dollarization"? What are the advantages/disadvantages of a "dollarized economy"? Provide examp..
Why is that the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
if they use a regulation should they allow for pollution permits? explain the benefits and detriments of each form of control. what would you recommend?
Imagine you are a member of Congress. Since consumer spending comprises at least 2/3 of real GDP, you know that increasing that spending would boost the U.S. economy in the short run. During a press conference, a member of the press asks you what you..
Consider a small country that exports steel. Assume that a "pro-trade" government deicdes to subsidize the export of steel by paying
Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various incomes maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent Ch..
List the advantages and disadvantages for the United States to protect its catfish industry. List the protective measures (instruments) the United States has not used to protect its catfish industry. Briefly explain why each would or would not be suc..
What is the company -level production function. You are currently using three printing presses and five employees to print 100 sales manuals per hour.
Distinguish between the two types but knows the probabilities of each type. What would be the result in this market for loans.
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