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Explain why, when all markets are competitive and in equilibrium, all three conditions of efficiency are satisfied. Does this result indicate that society's welfare is maximized?
Consider the following data, which applies to Avataria and Twilightia in the years 1990 and 2010. In both countries the production function in per worker terms is: y = A(k)^1/2(h)^1/2. Country; Year; Output per worker, y; Physical capital per..
Suppose Q is the quantity demanded for medical care services. The linear industry demand function takes the form.
when walmart locates in a smaller town, often the local retailers hardware, clothing and appliance are unable to successfully compete and are driver out of business why does walmart have a cost advantage over its competitor and charge lower prices
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
In light of Ricardian model, how might you measure the claim by developing countries that they're at a disadvantage in trade
In the Cournot homogeneous oligopoly model, why would each firm not increase its output given both firms are choosing the Nash Equilibrium?
A discouraged worker is an individual without a job who has a desire to work; however, the worker has not actively searched for a job within the last six months, because the worker believes that there are no jobs available. Such a worker is not in..
Analyse and evaluate the argument presented in the article and the methodology used by the authors to examine the effects of inward FDI on local productivity. How far do their conclusions confirm or change any prior views you might have had based ..
All countries are faced with the basic economic problem of scarcity. Governmentscan intervene in their economies through the use of budgets.
What do we call an environment where transactions between private parties are free from state intervention colbert. precursor to invisible hand?
Take a position on whether the banking industry needs more or less government regulation. Support your position with two examples of the impact of regulation.
1. Define fiscal policy. Determine whether each of the following, other factors held constant, would lead to an increase, a decrease, or no change in the level of real GDP demanded:
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