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A decrease in the wage rate will cause a firm's marginal cost curve to shift down. Explain where each of the above statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate.
Describe the major components of a business model. Which component do you identify as the foundation component? Why?
Suppose that during one period, the velocity of money (V) is constant and during another period, it undergoes large fluctuations. During which period will the quantity theory of money be more useful in explaining changes in the inflation rate? Briefl..
Calculate GDP and Real GDP from the following information. Consumption=1,000.
Locate two recent articles regarding the current global economic crisis.
Assume that wages and prices are sticky and that we start at a long-run equilibrium. Assume that at this initial point, the growth rate of the money supply is 4%, the growth rate of the velocity of money is 3% and that the real economic growth rate i..
Suppose that Congress and the President are concerned that some individuals die without making adequate plans to financially provide for their families after their death. What are the likely effects on employee well-being of this mandate?
What would the Consumer Surplus, Producer Surplus, and Total Surplus be for the quantity demanded =1000-P and the quantity supplied =3P-120?
A Monopolist selling a cell phone in two separate markets. They must decide how much to sell in each market in order to maximize their total profits.
Assume that the demand for textbooks is perfectly elastic. How would a decrease in the supply of textbooks change the equilibrium price and quantity in the market? Assume that the supply curve is upward-sloping as usual.
If the 100 customers on a particular day have the characteristics of a random sample from their customer? base, find the mean and standard deviation
In 2013, the furniture store PB produced 10 mahogany desks. One of them is sold to Jeanine for $3,259, later that same year Jeanine sold the desk to Pamela for $1,802. The remaining desks were not sold to anyone that year and stay in PB's inventory a..
Adrianne and Joanna love watching plays on Broadway. Adrianne values a play at $85, and Joanna values it as $82. When the price of tickets increased from $80 to $83 following the imposition of a tax, Joanna stopped watching plays on Broadway, whil..
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