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Explain the four major problems within the Mercantilist doctrine
Why might learning by doing decrease the long-run average cost of production?
52% of mosquitos caught at random in any given field study carry malaria. If you conduct a study and capture 12 mosquitos, how many mosquitos
If the Federal Reserve is following a restrictive monetary policy by lowering the money supply in the economy, what will be its effect on the equilibrium outcome in the economy? Explain using AS-AD analysis.
Consider a market comprised of three firms. Firm 1 produces and sells 23 units per period. Firm 2 produces and sells 19 units per period, while firm 3’s periodic production and sales are 15 units. Determine the market price and the elasticity of mark..
What are the relationships among marginal products, the marginal rate of technical substitution, and the slopes of isoquants?
Describe the demand model and its purpose. Describe the supply model and its purpose. Some important questions need to be answered in your description.
Suppose three countries were self sufficient and produced along a straight line production possibility curve.
illustrate what wage would a monopoly union demand. Explain how many workers would be employed under union contract.
Using the supply-and-demand model, explain what would happen to the supply curve during a drought. Also explain the effect on the price of water as illustrated by the graph.
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t-shirts is about
Assume net exports are -$220, consumption is $5000, tax revenues are $1000, government purchases are $1500, and 2008 GDP calculated by the expenditure apporach is $8000.
Billboards cost money to make and don't really seem to significantly benefit anyone other than billboard-makers. A company c putting up billboards presumably increases profits from the resulting increased number of customers, but don't competing busi..
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