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Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an example for each of the market structures listed and how it relates to the particular characteristics.
Suppose that the banking system has no excess reserves. Calculate the maximum amount of check-writing deposits when bank reserves total $10,000 and the reserve requirement;
Answer the following Multiple choice questions.
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.
Beauty lotion is a skin-moisturizing product that contantains rich oils, blended especialy for overly dry or neglected skin. Product is sold in five once bottles by a wide range of retail outlets.
Determine what does a contractionary gap imply about the actual rate of unemployment relative to the natural rate?
Suppose that the ecomony is operating below full employment and that it will not overheat during the year.
1) Identify the combination of workers and capital that will be used. 2) Is the total cost of producing 9 units of output in this way greater than, less than, or same as the cost at point C Support your answer by showing what has happened using L..
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.
All of the following would cause the aggregate demand curve to shift EXCEPT a) improving levels of prosperity in other countries. b) a decrease in the price level. c) a deterioration of overall consumer confidence. d) an improvement in overall con..
Explain the impacts of an expansionary fiscal policy such as a tax cut on the levels GDP, Consumption, Investment, interest rate and unemployment and price.
Explain the science of economics in the presence of making a profit with scarce resources
Some nations have very different economies. In the absence of market-set prices, how are prices determined for household goods.
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