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In the diagram above, Discuss the implication to Economic Efficiency of an economy operating at point X .v. Operating on Point Y. What would it take for the economy to operate at point Z?
Entrepreneurship is a factor of production which adds value to the production process and therefore earns a legitimate return to its exertion. How would you evaluate these two contrasting views, and what are their implications for society?
what is the highest possible price per unit that could exist as the market price in long-run equilibrium and If that price ends up being the market price and if the normal rate of profit is 10 percent, then how big will each firm's accounting profit..
Assuming you could not get the Pink ticket for free what is your (net) opportunity cost of your seeing Lady Gaga?
The demand for personal computers can be characterized by following point elasticity = -5, cross-price elasticity with software = -4, and income elasticity = 2.5. Indicate whether each of following statements is true or false, and describe your an..
Draw the budget constraint for a world with both fixed time costs and fixed money costs of working. What is the effect of fixed costs on the reservation wage?
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?
Assume that the demand and supply curves for broccoli in the United States market are given by:
How does the Heckscher-Ohlin theory differ from Ricardian theory in explaining international trade patterns and the theory demonstrates how trade affects the distribution of income within trading partners. Explain.
Suppose there is a surge in demand for olive oil after researchers discover that olive oil consumption reduces heart disease. Analyze the short and long run effects of this increased demand on you firm.
Evaluate the money multiplier? The central bank decides to increase the money supply (M1) by $200 million through an open market operation. How much should it buy in bonds?
Calculate the unemployment and labour force participation rates in 2014 and in 2015 and what challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
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