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Assuming that over the last three years the equilibrium quantity of wheat has risen while over the same period the equilibrium price has not changed, which of the following is the most likely explanation of these facts?
Label a point f inside the curve. why is this an inefficient point. label a point g outside the curve. why is this point unattainable.
Dr. Cutthroat is a plastic surgeon specealizing in turning ugly, old people into young and beautiful/handsome creatures, for a fee, of course. He has just started a practice in an island far away from civilization, inhabited by ric h and ugly peop..
A profit maximizing competitive firm sells its product for $9. Its average total cost of producing this product is $10. The firm's profit maximizing output level is 10 units. How much total profit does this firm earn?
Analyze the roles of physical capital, human capital, technology, and natural resources in influencing long-run economic growth of aggregate output per capita, and how governments can contribute, or discourage long run growth through their policies a..
A firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. suppose that in the short run k=100. moreover, wage of labor is w=5 and price of the product is p=10. wha..
A change in the real money supply can result either from a change in the nominal money supply though Federal Reserve policy (holding the price level constant) or from a change in the price level (holding the nominal money supply constant).
A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm's total costs are C(Q) = 50 + 10Q + 2Q2. a. How much output should the firm produce in the short run? b. What price should the fir..
Define what is the entire relationship between the price of the good and quantity demanded of the good.
What will be the level of output and price in the long run if this industry were perfectly competitive?
The assignment problem pertains to recent macro-economic trends in the world. The report is an in-depth analysis on European Monetary Union's role in the bailout package issued to Spain and Greece.
How do you make a forecast for gdp growth rates unemployment and inflation that might be experienced in one year, three years and ten years from now. I have the current and past rates but do not know how to forecast out 1 yr, 3 yr, 10 yrs. Can you he..
If Joe's income is $5,040 a month, and the price of goods X1 and X2 are $45 and $5 respectively, derive the following: A) The quantity of X1 and X2 that maximize Joe's utility B) The maximum level of utility Joe receives.
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