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"When analyzing demand and supply, it is important todistinguish between the short run and the long run. In other words,if we ask how much demand or supply changes in response to a changein price, we must be clear about how much time is allowed to passbefore measuring the changes in the quantity demanded or supplied.In general, short-run demand and supply curves look very differentfrom their long-run counterparts." Consider two goods: carsand burgers.
Would you expect the price elasticity of demand for carsto be larger in the short-run or in the long-run? Why?
The PPF curve shows the economic choices a country can make about production given scarce resources, a given technology, and a given quantity of inputs. Assume you are a developing country, producing food and clothing at maximum capacity.
what aspects of your decison-making process fit the description of a rational choice. did you consider costs and benifits?
Give some arguments for and against the critisim of the federal income tax exemption of interest on state-local debt as being an inefficient subsidy.
An investor wants to earn a yield of 9% from a 10,000 bond with a coupon rate of 6% payable semiannually. The bond's life is 10 years, and it was issued 4 years ago. The eighth payment will be made immediately after the purchase. What is the ma..
Explain why does the US steel industry want a tariff on imported steel. Show the US steel market with and without a tariff, showing graphically why they will like a tariff.
Marketing refers to the four P's in duscussing firm strategties. Why do you think price is the most powerful and important P that the firm has at its disposal What makes it so much nore attractive as a tool as compared to the other Ps
Impliment the formula to earnings rather than operating income also use a required return for equity of 9 percent.
Should a country's income be distributed to its members based on their contributions to production of that total income or according to the member's requires?
Suppose the marginal costs of reading are consatnt and the marginal benefits of reading decline(over time). Initially, the marginal benefits of reading are greater than the marginal costs. draw the marginal benefit curve and marginal cost cuve of ..
To improve its standard of living, a nation’s economy must remain stable, grow through innovation or else.
Suppose an economy with constant state unemployment. the separation rate is 2.5 percent per month and the finding rate is 47.5 percent per month.
The total operating revenues of a public transportation authority are $100M while its total operatiing costs are $120M.
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