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In a monopolistically competitive market, the government applies a specific tax of $1 per unit of output. What happens to the profit of a typical firm in this market? Does the number of firms in the market change? Why?
The following information shows labor productivity (output per day) in the countries of Alpha and Beta: Alpha 3 computers 15 shirts Beta 2 computers 6 shirts Answer these questions: (a) Which country has a comparative advantage in the production of c..
what actions could the Bank of Japan (Japan's central bank) and the Federal Reserve have taken? Why might the central banks have failed in this attempt?
Declare a class named Cuboids with its three data members of type float to have the measurements of the three dimensions - Write all the set functions for each data member to set their values.
Summarize those conditions and relate them to the current FOMC policy
In a given marker, demand is described by the equation QD=1800-10P and supply is described by QS=200+10P. A. Determine the equilibrium price and quantity. B. Determine the surplus or shortage that would exist if the price was set at $60 by the state.
The following table provides the quantity of fish and coconuts that each individual can catch or gather in one hour. Coconuts Fish Adam 6 2 Friday 6 4 a. Who has the absolute advantage in catching fish
A tax is imposed on the industry to account for the environmental damages associated with production activities. What is the efficient tax rate?
Define Nash equilibrium. Why do firms in oligopoly situations reach Nash equilibria?
Consider a production function for an economy: Y = 20(L.5K.4N.1) where L is labor, K is capital, and N is land. In this economy the factors of production are in fixed supply
What asymmetric information problems is Zaneb likley to enounter and what arrangements are likely to help cope with those problems? Explain your answers.
Draw the total product, average product, and marginal product of labor curves (you will probably want to use two diagrams) for this production
Why might we expect a teacher on a fixed annual salary to respond differently to a cut in the rate of income tax compared with a bricklayer paid according to the number of bricks laid?
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