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ASAD
a) Explain why there are 2 supply curves in this model and how we transition from one to the other.
b) i) Explain one reason why the AD demand curve might shift to the left.
ii) Describe the process by which the economy gets back to long run equilibrium. Use a graph to support your answer.
iii) In classical economics, why is this referred to as laissez faire economics?
Suppose that the economy improves and the crime rate in West Philadelphia drops, so that the marginal product and average product of a group of 100 police officers is now 55 arrests per hour for any number of police officers. What is the optimal allo..
Discuss three specific advantages and disadvantages regarding the division of labor?
The average revenue for product Q is given by AR = 120 – 3Q and the total cost of Q by: Find the price function and then the TR function. See Assignment 3 or 4 for an example. What total profit will result from selling the quantity found in (c) at th..
The operator of the tunnel that links Britain and France, Eurotunnel, said that commercial and tourist traffic using its car and coach shuttle service had fallen sharply, leading to a drop in operating revenues of 4%. Eurotunnel's chief executive, bl..
There are two firms (firm A and firm B). Both have zero costs. They SIMULTANEOUSLY choose quantities: Q_A and Q_B. The inverse demand is P = 18 – Q, where Q = Q_A + Q_B. Derive the equilibrium outputs. No points for solving for the Stackleberg/sequen..
A subsidy is a negative tax in which the government gives people money instead of taking it from them. If the government applied a ?$1.951.95 specific subsidy instead of a specific tax in the figure to the? right, what would happen to the equilibrium..
Based on a 10% after-tax rate of return, how many days per year must the truck be used to justify its purchase?
The price elasticity of demand for Pete's chocolate chip cookies is 1.5. Pete wants to increase his total revenue. Would you recommend that Pete raise his cost or lower his cost of cookies. Explain your answer.
List three reasons that inequality for woman reduces economic growth.
principles of strategic management to a case study.
What is the greatest challenge with reports produced for health care providers, managers, directors, and executives?
You own a large collection of fine wines. You are considering liquidating these assets. You predict that the value of your collection will rise in the next few years. If you assume your cost of capital to be 10 percent, when should you sell your coll..
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