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You have been hired by the government to reduce carbon emissions. As well, you need to "sell" the plan to the public. Choose whatever policy you think best matches the goals of the political party you work for. Write a short newspaper advertisement.
Interpret the estimated demand function for one-month memberships and calculate the point price elasticity of demand and point income elasticity of demand in Town D at the price charged last year.
What is the difference between a change in demand versus a change in quantity demanded? A change in supply versus a change in quantity supplied? Why is it so important to differentiate between these similar-sounding terms?
Describe the difference between a monopoly and an oligopoly, and a cartel and provide an example of the monopoly, an oligopoly, and a cartel and write down the welfare effects of monopolies and oligopolies.
Derive the equation of the consumer's demand curve for x and with y on the vertical axis and x on the horizontal axis, draw a price-consumptioncurve when the price of x changes.
Consider some of products which are widely advertised on television. By what type of firm is each produced the perfectly competitive firm, an oligopolistic firm, or another kind of firm? How many major products can you think of that are not advert..
Explain the difference between accounting profit and economic profit. Include discussion of the distinction between explicit and implicit costs and how they relate to economic cost and opportunity cost.
Conduct a meta-analysis of the author's economic perspective of the issue, provide a brief overview / synopsis of the issue and discuss the model or economic theory that relates to the issue presented in the news article.
Price elasticity of demand and Income elasticity of demand What impacts will have the construction of a new natural gas company on oil demand. And on electricity demand? Justify.
Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?
Suppose that the money market is initially in equilibrium for an economy. Describe with the aid of a diagram how market adjusts to an increase in money supply, an increase in real GDP
Explain why inflation is a main concern for an economy, and examine how well inflation in Australia has been managed by the monetary authority.
What is the shutdown point? Give an example. How is the short-run defined in the production process? Please provide references if applicable.
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