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Draw a Production Possibility Curve for the United States (or your native country if you are not from the US) today between capital goods and consumer goods. Assume that there are increasing opportunity costs between the two broad categories of goods
Place point A on the graph where you believe the economy is today. Briefly, but thoroughly justify your placement.
Place point B on your graph where you believe the economy SHOULD BE. Briefly, but thoroughly justify your placement. Further, if point A and point B are not the same, explain why please
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275. If e..
Elucidate how much consumer surplus would be created by randomly assigning buyer to sellers. Which method gives the larger surplus.
In theory with flexible exchange rates should allow countries to conduct ________ monetary and fiscal policies, exchange rates, but paradoxically the experience of the relatively flexible exchange rates of the 1970's suggests that such policies cause..
ture capitalists provide funds to finance new companies (start-ups), usually in return for a share of the firm’s initial profits (if any). Of course, venture capitalists look to back experienced entrepreneurs with strong products (or at least product..
Cain just offered you $14 for the ticket, while just abel offered you $15. At this moment in time, what are your sunk costs?
What exactly is computational economics? For example, does certain software for calculating/predicting/visualizing cost of manufacture falls under computational economics?
Two firms constitute the entire doghouse industry. One has the long-run cost function c1(y) = 3 + 4y 2/3 for y > 0 and c1(0) = 0, and the other has the long-run cost function c2(y) = 10 + y 2/10 for y > 0 and c2(0) = 0. If no new firms can enter the ..
Explain how each of the following will affect the average fixed cost, average variable cost, average total cost, and marginal cost curves faced by a steel manufacturer: New union agreement increases hourly pay. Local government imposes an annual lump..
Students are required to write an essay on a significant, recent economic event or activity and discuss an economic activity or event of interest and apply it to theoretical models and economic laws introduced during your study of topics.
Why is the shut-down price and quantity found at the lowest part of the AVC (average variable cost) curve?
A firm has estimated that the demand for its product comes from two types of customers, type I and type II. Each type I customer -there are 30 of them- has a demand curve given by Q = 20 - P, while each type II customer -there are 50 of them- has a d..
What is the effect on the U.S. willingness to trade? (Assume that the United States remains an importer of clothing.)
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