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1) True/False - The difference between consumer surplus and producer surplus in a market is equal to the deadweight loss.
2) Which of the following is an example of human capital?
A) A Computer. B) A Factory Building. C) A College Education. D) A Software Program.
find out the annual prices of oil for the past 5 years. By what percentage is the current price higher or lower than 5 years ago.
Calculate the level of production for which the two methods have the same total costs. Compare the profits of the two manufacturers for production and sales of 200,000 units. Calculate the level of production and sales for which the two methods produ..
q. assume the industry demand for a product is p 1000 - 20q. assume that the marginal cost of product is 10 per unit.a
Suppose the MPC is an economy is 0.9. The APC is initially 0.95 and disposable income is $4 billion.
Classical economic theory says there is a linkage between investment and savings. Explain the source of this linkage. What is the argument that says this link is not as strong as classical economists believe? (Hint: Differentiate between the parties ..
Suppose the demand functions facing the wireless telephone monopolist are QdL=80-50P for each low-demand consumer and QdH=2000-50P for each high-demand consumer, wherePis the per-minute price in dollars. The marginal cost is $0.10 per minute. Suppose..
Okun’s Law shows the relationship between the ______. A. inflation rate and the unemployment rate B. the unemployment rate and real GDP C. price level and real GDP D. price level and the unemployment rate E. inflation rate and real GDP
Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and..
Hiro Nakamura is CEO of the Cola King Bottling Company, a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Calculate the profit maximizing labor demand and the resulting wage paid for the monopsonistic firm. Calculate the welfare loss compared to the competitive outcome.
One way to repay a $5000 loan would be to make four annual end-of-year payments of $ 1000 each, followed by a final payment at the end of the fifth year. Assuming an interest rate of 8%, how much would this final payment be?
The best answers eliminate the puzzle concisely. Explain the short-run effects of eliminating rent control on apartments. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtai..
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