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Contrast the market demand/supply curves and the individual firm's labor supply/demand curve in a perfectly competitive labor market. How does the law of diminishing marginal returns affect a firm's demand for labor?
Your decision to pursue a higher-level degree is based on investment in human capital. What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
What is the value of the money multiplier and What are the nominal values of deposits, currency, and reserves
Provide the demand curve in part a, what is the equilibrium price and quantity. If consumer income increases to 30,000 what will be the impact on equilibrium price and quantity.
Compute the implied arc price elasticity of demand. Is a further price decrease warranted.
In perfect competition, profits will disappear in the long run as new firms enter the market; in a monopoly, profits may exist in the long run. In the short run, both monopoly and perfect competition attempt to minimize total costs.
If the demand for money depends positively on real income and depends inversely on nominal interest rate, determine what would happen to the price level today if the central bank declares.
If you are the chief economist of a country experiencing high unemployment and flat GDP, what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
Describe how the federal reserve kept the US from sliding into a deeper recession after.
Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following ..
Assume Smith owns and works in a bakery located next to an outdoor cafe owned by Jones. The patrons of the outdoor cafe like the smell that emanates from the bakery.
Since the end of World War II, manufacturing firms in the United States and in Europe have been moving farther and farther outside of central cities. At the same time, firms in finance, insurance, and other parts of the service sector have been lo..
After the firm's patent expires, predict the new market output and price. Assume that competing suppliers have the same economic costs as the original producer. Calculate the resulting change in consumer surplus.
Brian and Allen are thirty years old with identical academic records and job history. Both currently have jobs paying $40,000 each year.
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