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Graphically show the production possibilities frontier for the nation of Stromboli, using the data given in the following table. Does the principle of increasing cost hold in Stromboli?
In a perfectly competitive industry, the marketprice is $25. A firm is currently producing 10,000units of output, its average total cost is $28, itsmarginal cost is $20, and its average variable costis $20.
In a graph of the natural logarithm of an economic time series, what does the slope of the graph represent?
Compare and Contrast Frankenstein and Abraham Lincoln Vampire Hunter. How do each of them treat the themes of life and death?
What is the effect of an increase in β on the equilibrium? Provide an intuition for this result.
Hotelling'sModel (RG): Consider a population uniformly distributed along an ideological spectrum [0, 1]. Each of two candidates chooses (simultaneously) a platform represented by an ideology value x ? [0, 1]. The voters observe the platforms.
For the economy as a whole, what percentage of firm revenue is spent on advertising?
In 2012, the box industry was perfectly competitive. The lowest point on the long-run average cost curve of each of the identical box producers was $4, and this minimum point occurred at an output of 1,000 boxes per month. The market demand curve..
Why does the varieties model of technological change from section 6.1 exhibit a scale effect in the sense that the growth rate rises with the aggregate quantity of labor, L? Is it reasonable to identify L empirically with a country's population?
Given the following Demand and Supply functions answer questions a thru d. Qd=120-2P+5I Qs=-10+4P-3W where P=$3 is the price of the good. I=$100 per capital consumer income W= $50 wage rate a. Derive the demand and supply curves (qd and qs).
Find E(Z) (1 dp) 2. Assuming that X and Y are statistically independent find var(Z) (1 dp) 3. Assuming that cov(X,Y) = 2 find var(Z) (1dp)
(The Private Sector) Look at Exhibit 4. How have government outlays as a percent of GDP changed in the industrial countries depicted between 1994 and 2004? Why has Japan been an exception to the trend?
Caroline received a $1 million payment from a lottery ticket. She decided to use the money to purchase a cupcake business. If Caroline had invested the $1 million in a money market account, she would have made $30,000 in interest each year.
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