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Question
The government has imposed an indirect tax on good A and the coefficient of the price elasticity of demand is > 1. Explain and demonstrate with the use of appropriate diagrams the effect of this tax on both the buyer and seller.
Marginal benefit is defined as:
Discuss the impact (negative and positive) that regulation/deregulation has had on the growth and/or continued growth of intermodal transportation in both count
With adaptive expectations, what is the inevitable consequence of an active, expansionary monetary policy in the short and long run?
How would you expect the following to affect the economy wide demand for money? The demand for money represents the desire of households and businesses to hold assets in a form that can be easily exchanged for goods and services.
Consider the following competitive firm in the short run: What is the profit maximizing condition for this firm? Is this firm making a profit or a loss in the short run?
If the interest rate is 5%, what is the implicit rental price of the warehouse?
1. For a perfectly competitive market, at the profit maximizing level of output
Discuss the historical significance and legacy of Watergate. What implications does this legacy have on today's politicians?
Show graphically how the effects of an increase in supply will differ according to the elasticities of supply and demand.
Illustrate what will happen to the equilibrium quantity also price of a product in a competitive marketplace when the increase in demand exactly offsets the decrease in supply.
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next-best alternative. What example would you pose to explain this?
A firm produces handbags using three workers. On Tuesday, Jane completed 60 bags in 6 hours, Ron completed 50 bags in 7 hours, and Mary completed 80 bags in 5 hours. What was overall productivity of firm.
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