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1. The long-run aggregate supply curve (LRAS) is Y = Yf, which depends on the amounts of resources and the level of technology innovation. If a country has more resources and better technology.
2. Suppose the wage rates of workers are based on the expected price level. If there is an unexpected increase in AD, it will cause the actual price level to increase. Then workers should raise their expected price level and negotiate a higher wage rate. Then which of the following is most likely to be true when the expected price increases?
3. Suppose the economy is in the long-run equilibrium, i.e., Y = Yf, and there is an unexpected decrease in AD. Assume that Yf is fixed.
Mary Smith, a customer, buys the Best product to use in the demolition of her office building. Due to a defect in the product, John Doe, an employee of Mary's, is injured. He sues Mary Smith, Best and AI. Discuss the ramifications of this case if ..
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
Consider the market for tuna, which is a price-taker market. The long-run equilibrium price is $3 per can of tuna, and the long run equilibrium quantity is 600 million cans per year. suppose the surgeon general issues a report saying that eating t..
What level of output should this firm produce in order to maximize profit or minimize losses - and how many firms in total will there be in this market?
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days for each year. It has orders for about 12,000 flashing lights for each year and has the ability of prod..
Suppose that after graduation you take a job with an employer that oers to pay full tuition for employees wishing to return to school to get an MBA degree during non-work hours. You are not required to continue working for the rm after getting yo..
You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive stra..
Formerly, market for air travel in Europe was highly regulated. Entry of new airlines was severely restricted, and air fares were set by regulation.
The value of good A goes up. As a result the demand for good B shifts to the left. From this we can infer that, Suppose that the current market value is below the market clearing level.
Explain why Monopolistically Competitive firms charge different prices for their products and Oligopolies tend to all charge the same price. Explain why all businesses do not Price Discriminate.
The Fed took a somewhat more hawkish view of inflation than it did in the March statement. Today's statement made specific reference to inflationary pressures, saying that energy and other commodity prices have increased, an acknowledgement absent..
Use Starbucks as the company, please help identify market structure of the organization. Evaluate the effectiveness of this structure for the company.
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