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Explain the difference between the demand curve facing a monopoly firm and the demand curve facing a perfectly competitive firm.
1. Explain why no nation is interested in taking the first and unilateral step of cleaning up the air (Hint: consider public goods). 2. Why are governments pressured to solve the global warming problem
Let MUa=z=10-x and MUb=z=21-2y, where z is marginal utility per dollar measured in units. x is the amount spent in product A. y is the amount spent on product B. Assume that the consumer that the consumer has $10 to spend on A and B, that is x+y=10. ..
the amount of education the typical person receives varies substantially among countries. suppose you were to compare a
Describe the recession we have seen a significant increase in unemployment. Use the model of supply and demand to illustrate what has happened.
What are the two effects of every price change Given two goods, "x" and "y", if the price of "x" increases (all else equal), what do each of the effects say will happen to the consumption of "x"? After the change, what can we say about the quantity..
In the short run, prices may rise faster than costs. This chapter discusses why this might happen. Suppose that labor and management agree to adjust wages continuously for any changes in the price level.
Why do they believe changes in government spending affect the economy differently than changes in income taxes?
find an article from the media internet newspapers magazines etc. on a current event that addresses an economic concept
Larry, Curly and Moe run the only saloon in town. Larry wants to sell as many drinks as possible without losing money. Curly wants the saloon to bring in as much revenue as possible. Moe wants to make the largest possible profits.
The annual fixed cost for an inspecting and profiling web controller manufacturing company is $44,000 and variable cost is $38/unit. If selling price per unit is p = 495 -.05x, what is the company’s range of profitability demand? What is the optimum ..
two u.s. senators made the following argument against allowing free trade fewer and fewer americans support our
One of the major problems in macroeconomics is disagreement in the debate over policy activism versus policy rules.
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