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The owner of Michaels Prints a firm that prints business cards tell you that as a result of an increase in the wage rate of printer operators he has reduced the amount of output he produces and the amount of capital he uses how should you respond?
when the government increases taxes to provide traditional public goods, such national security, there tends to be what. marginal external cost equals marginal private cost minus marginal social cost.
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means. Derive an expression for the (inverse) demand curve for Einsteins's Bagels.
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Johnston production is the price taker which utilizes this cost structure in the short run:
College enrollments increased at the same time that average tuition rose dramatically. Does this contradict the law of downward-sloping demand?
What is the difference between a change in demand versus a change in quantity demanded? A change in supply versus a change in quantity supplied? Why is it so important to differentiate between these similar-sounding terms?
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
1. Which economic system is best suited for handling a crisis of epic proportion (hurricane, flood, blizzard, forest fire, and so forth)? Why? 2. Describe and explain why a socialist system might be the best in responding to the needs of people st..
Create a log return series from the stock price index (the log return is the change in the logarithm of the stock price). Estimate an appropriate pure AR(p) model and an appropriate pure MA(q) model and compare these to a mixed ARMA(1,1) model.
What is the equilibrium quantity in this market and what is the equilibrium price in this market and what are the resulting output, revenue, cost, and profit of the typical firm?
Give two reasons for (20 points) and two reasons against backing a currency with gold. Then develop your position either for or against backing the US currency with gold and substantiate your assertions.
Suppose that you are a government official in charge of your country's fiscal policy. The country maintains a flexible exchange rate system. You are asked by your country's citizens to use fiscal policy alone to expand the country's..
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