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What are economic resources and how does scarcity of resources apply to economic decisions?
If the market-clearing price is 6, obtain the profit maximising level of output.
Assume that you have $165,000 invested in a stock that is returning 11.5%, $85,000 invested in a stock that is returning 22.75%, and $235,000 invested in a stock that is returning 10.25%. What is the expected return of your portfolio?
Suppose that a firm's production function is given by the Cobb-Douglas function q= (K^a)(L^ß) and that the firm can purchase all the K and L it wants in competitive input markets at rental rates v and w, respectively.
The concept of game theory is one I find intriguing. Its relationship to economics was not understood until the last decade and now the bulk of the Nobel economics prizes have been awarded for behavioural economics of which game theory is a component..
State whether you agree or disagree with the following statement and explain why: a. When the real economy expands (Y rises), the demand for money expands. As a result households hold more cash and the supply of money expands. b) Inflation a rise i..
Calculate the number of physicians, per thousand population in Canada, from 2002 to 2005. What conclusions can be drawn about the physician coverage of Canada's opulation?
The mayor’s economic adviser reminds her that she is focusing only on the price effect and ignoring the quantity effect. Explain why the mayor’s estimate of a one-third loss of revenue is likely to be an overestimate.
Why does the economic transfer price to the consumer include implicit cost (normal profits, externalitiea, and other unrecorded cost) which you do not find in accounting cost? 2) What are short run and long-run periods of economic? Does the Law of ..
Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many copies of Vista they like at the prevailing market price of $200.
Describe why some firms might suffer diseconomies of scale. Do you know any examples? Could GM be an example of diseconomies of scale?
What would your analysis of this economy be if Thompsonia only produced 3 tanks and 2 trucks - Does this economy exhibit the law of increasing marginal opportunity cost? How do you know by looking at the graph?
choose and research a specific business that is publicly traded where there has been a pattern of change in a
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