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If a recessionary gap were to appear, how might the economy adjust? Can/should we rely on it to adjust itself? Is it possible that the economy will never adjust to a gap, and things will just get worse and worse?
Licensure of physicians means that to some extent, the supply of physicians can be viewed as a vertical line. Explain what this means for the price of physician services. How might this change over time?
Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The four market structures are monopoly, Perfect competition, oligopoly, and monopolistic competition.
Assume that the demand and supply curves for broccoli in the United States market are given by:
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.
What is the equilibrium price in this market and how many cups of coffee are traded in equilibrium
what is the levelized cost of electricity per kW-hr and Which press should you purchase if 120,000 nondefective units per year are produced by each press and all units can be sold?
Suppose you have been asked to make a report for a group of new stock brokers about NYSE-Euronext and the NASDAQ.
What is the most common way modern labor unions use to raise wages? This will result in the fewest jobs lost if labor demand is elastic or inelastic?
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
. Show how the Fed would increase M1 by 1 million dollars by changing the reserve ratio. Show how the Fed would increase M1 by 1 million dollars through open market operation.
"we oppose a nationsl market for pollution rights, as this would put an undue burden on low-income households who would no longer be able to afford to drive cars or heat their homes. instead, we propose that large corporations be required to reduc..
Consider a firm with total short-run cost function C=a+b.Q. New legislation means that it should pay an environmental tax which is the fixed sum, independent of whether it produces any output.
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