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In a closed economy $10,000 is to be spent anually on the maintenance of existing capital stock,while the factor cost of final goods producing during the year=65k $. Producers pay 10k by the way of production. Find GDP at market price.
You heard that you are being transferred to California where housing is 50% more expensive. In negotiating a new salary, your objective is to keep your real income constant.
Describe the likely impact of each of these three proposals on total surplus including social cost and benefit and Which of these proposals is most consistent with the Coase approach to externalities
Suppose that a firm sells in a competitive market at a fixed price of $12 per unit. The firm's cost function is: C = 200 + 4Q. Determine the minimum quantity at which the can break even. Are there multiple break even points? Explain in detail.
Which is not a factor of production? Which is not one of the five fundamental questions that an economy must deal with?
In the 1960s and 1970s, research funding by the U.S. government and some universities led to revolutionary advances in network computing. These advances in communication and network technology remained largely isolated to governmental and academic..
Third National Bank is fully loaned up with reserves of $20,000 and demand deposits is similar to $100,000. The reserve ratio is 20 percent.
How does the investment banks industry fit into the perfectly competitive model - Special characteristics of purely competitive firms
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
What are the monopolist's profit-maximizing output and price and what is the resulting deadweight loss relative to the competitive outcome?
Explain the importance of price elasticity of aggregate demand. That is, what are the different welfare implications with respect to consumer surplus when aggregate demand is elastic compared to when aggregate demand is inelastic?
Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
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