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Describe the process/approach a perfectly competitive firm uses in determining it profit-maximizing level of output AND be sure to explain why the firm doesn’t have to establish a profit maximizing selling price for its product. Be specific in your answers.
Money is an interesting topic and there is much to learn that is not common knowledge regarding how we create money, especially money that is just printed!
The global economy in 2011 appears to be headed into a double-dip recession. Based on your knowledge of aggregate demand and aggregate supply, suggest the reasons and causes for the downward tailspin of the economy.
1. What is CEO Toback's most pressing concern and how could he go about addressing this concern 2. Do you agree or disagree with the assessment of the concern and the plan to address this concern Why or why not
Political business cycle: Do economic events affect presidential elections? To test this so-called political business cycle theory, Gary Smith 20 obtained the following regression results based on the U.S Presidential elections for the four yearl..
Consider a two-country model. Assume that the Current Account Balance is initially positive for one country. Assume that a permanent positive shock to production affects the country which initially had a positive current account balance.
In the late 1960s, Milton Friedman and Edmund Phelps argued that there was not a structural relationship between inflation and unemployment rates. In particular, the trade off could only exist in the short -run.
Consider demand and supply curves for many markets - the market for mineral resources, the market for wheat, the market for sugar, and market for motor homes.
Use Excel program to estimate of the state's demand for KBC microbrews in Ohio. Print (past) the computer regression output and provide an economic interpretation of the regression results.
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
Provide two terms which you have heard in the mass media, political arena, or in any other venue.
Estimate the own-price elasticity for good X, the cross-price elasticity for goods X and R, and the income elasticity for good X and what would we expect to happen to quantity demanded
(Determinants of Price Elasticity) Would the price elasticity of demand for electricity be more elastic over a shorter or a longer period of time?
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