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Assume that the gold-mining industry is competitive. a. Illustrate a long-run equilibrium using diagrams for the gold market and for a representative gold mine. b.Suppose that increaseing in jewelry demand induces a surgein the demand for gold. Using your deagrams from part a, show what happens in the short run to the gold market and to each existing gold mine. c. If the demand for gold remainshigh, what would happen to the price over time? Specifically, would the new long-run equilibrium price above, below, or equal to the short run equilibrium price in part b?
Assume that a Swiss watchmaker imports watch components from Sweden and exports watches to the United States. Illustrate what is the relationship among disposable income and consumption expenditure.
Illustrate what would happen if too more labor is hired without an addition to capital. Elucidate using economic terms.
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
A recent study indicates to the long-run average cost curve for cellular telecom companies are basically flat. Illustrate what do you expect to happen to industry output.
Which resource of production is the only one which nations can significantly increase in the short term.
Explain how would each of these traps impact the production possibilities frontier.
Assume which the mix of fiscal and monetary policies is changed such which the money supply is increased by 100 while the government.
From the supply and demand schedules, from Belgium what are the equilibrium price also quantity of cocoa beans.
Wheat farmers will receive total revenues from consumers and the government totaling
Refer to the Real Estate data, which reports information of homes sold in the Goodyear, Arizona, area during the last year. Prepare a report on the selling prices of the homes.
They spend their time performing two favorite activities. Knitting scarves and making meatballs.
Illustrate what is the macroeconomic relationship with the article, "Squaring the Economic Circle" by Art Buchwald.
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