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The difference between the short-run and long-run explains why many Canadian oil companies have continued to produce output even though the low price of oil means that they are earning negative economic profits. [Hint: Assume that Canadian oil companies operate in a competitive world oil market.] True or false, and why?
What is the internal rate of return for a cab if it is retired at the end of its economic service life What is the internal rate of return for a sequence of identical cabs if each cab in the sequence is replaced at the optimal time
"A substantial number of relatively unskilled persons reported that they can't find work. At the same time, there're many unfilled jobs for relatively skilled people. Apparently, the problem is that there're more unskilled peop..
GDP is $15 trillion. Consumption is $10 trillion, and government spending is $2.5 trillion. Taxes are $1 trillion, and the net capital inflow is $0.5 trillion. Investment is ______trillion dollars.
Given a situation in a monopolistically competitive market, if my price is $10 for an item and at my present rate of output, my marginal cost is $8 per unit
As with this data how could you make the cost benefit test to tell if at a given percentage level abatement is effiecient.
What is the federal reserve function of buying and selling government securities, which include treasury bonds, notes, and bills?
The story states that good weather has resulted in an unexpectedly large crop, which we know will increase supply and reduce the market price for their coffee beans. If all of the farmers know that picking this large crop will guarantee them lowe..
Explain the science of economics in the presence of making a profit with scarce resources
The Federal Reserve buys bonds in the open market, an open market purchase. What are the affects on monetary base, the money multiplier and money supply. The choices are increasing, decreasing, or unchanged.
The trend toward two-family income has led to policies allowing only one family member to work for a company, flexible work schedules, pregnancy benefits, and elder-care programs or else.
Suppose you are producing 2 units of output (Q = 2), if you want to produce one extra unit of output (Q = 3), what would be the marginal cost? (Show your work.) If the market price is given as $55, how much output will the perfectly competitive fi..
Suppose Congress, influenced by studies linking cigarette smoking to cancer, plans to raise the excise tax on cigarettes so the price rises by 10%. Estimate the effect the price increase will have on cigarette consumption and consumer spending on..
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