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Suppose the market for HDTV'S in the USA can be expressed by the following demand and supply equations:
Qd = 7500 - 2400PQs = 600P
Where Q is the number of HDTV'S and the price P is in thousands of dollars.
a) draw demand and supply on a graph
b) calculate the equilibrium price and quantity that will prevail in a free market.
c) calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
Using the production function shown above, compute real GDP for each case and capital is constant but labour is increasing. What property of the production function is displayed? Explain.
Your task is to take this advice and produce your own recommendation to the President. Do not simply choose one person's advice, but pick and choose from each recommendation that you receive.
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
You're the manager of monopoly that sells the product to two groups of consumers in different parts of country. Group 1's elasticity of demand is -2, while group 2's is -6. your marginal cost of producing the product is $10.
Assume that, as the chair of the Fed, you make a decision to "put policy on automatic pilot" and require that monetary policy follow an established rule.
Employ the following information on hypothetical short-run production function to answer questions a-d. Compute the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically.
Write down the household's budget constraints for period 1 and 2 and identify the current account.
Describe how the ice cream industry fits the oligopoly model and, how does the government influences oligopolistic behavior and do oligopolists always compete on the basis of price?
Explain the difference between internal and external stakeholders. How should a project manager prioritize the needs of each group of stakeholders?
Discuss differing views of the same landscape in the context of globalization of culture and Internet accessibility. 200 words or more
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Write a 750-word essay on how the Environmental Protection Agency's policies impact business in the United States.
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