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What do you refer to the combination of two or more firms competing in the same market with the same commodities?
There are 168 hours in a week. Of these, about 60 hours will go to sleeping (more or less). That leaves 108 hours for which we have a choice in terms of how we will spend that time. Let’s assume that we will spend the 108 hours in either work or leis..
What are the equilibrium real wage rate, the quantity of labour employed in 2010, labour productivity and potential GDP in 2010?
Define tax multiplier MT ≡ ?Y∗/?T and government expenditure multiplier MG ≡ ?Y∗/?G (in calculus terms, MT = ∂Y∗/∂T and MG = ∂Y∗/∂G)
Advanced technology digalized theEDG read out and the demand for the old style machine dropped. The drop in demand resulted in a demand resulted in a demand curve of P=3900-.15Q. What waas XYZ's optimal output and priving policy given this change in ..
Suppose prices are determined as a simple mark-up over expected wages: p-w^e=a0-a1U Assume further that wages are a simple mark-up over expected prices: w-p^e=B0-B1U Use the equations above to show that when prices are different from price expectat..
(a) Write an expression for X/Y in terms of annuity symbols based on an the 8% effective annual interest rate. (b) Write an expression for X/Y in terms of annuity symbols based on effective interest rates for time periods which correspond to the p..
A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restaurant has received rave reviews and has lines of diners waiting for tables most nights.
The Ben Bernanke has said that the Federal Reserve is going to continue its latest round of Quantitative Easing until unemployment falls to 6.5%. How fast will the economy have to grow to bring unemployment down to 6.5% by this ..
Use the utility function to answer the questions, below: (x1, x2) = exp (√(x 1 ) + √(x 2 )-Derive the Marshallian (ordinary) demand function for good1 and 2, x i *(p,l), i =1,2 . Then derive the indirect utility function (p,l).
Total production (TP) and the level of natural real GDP (NRGDP) for a hypothetical economy are represented on the graph that follows. When real GDP is $525 billion, consumption is $420 billion, government purchases are $75 billion, and investment is ..
What is the saving function? What is the marginal propensity to save and what is the aggregate expenditure function? What is autonomous expenditure? What is the marginal propensity to withdraw?
Assume that the Wall Street analysts believe the industry has good growth prospects. The audit client is predicting a 20% increase in sales and a 27% increase in profits for the year under audit. 65% of all sales are made to just five customers.
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