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Is a ________ increase in the price level and it can be produced if the AD curve shifts up ________.
continuous, continuously
continuous, either once or continuously
one-shot, once but only once
one-shot, either once or continuously
To continue operating, the college must receive payments equal to its total costs (that is, total fixed costs + total variable costs). If the college charges all students the same tuition, illustrate what tuition can it charge to cover all of its c..
Illustrate what is the tax burden on consumers also producers. Illustrate what is the deadweight loss.
In an effort to bring inflation down they had set interest rates at 5% in 2018. How should the federal resent react if they desire to bring inflation down to 3%. When will they achieve that goal? (Hint: maintain plenty of decimal places.)
This production function does not satisfy the definition of rising returns to scale, constant returns to scale, or decreasing returns to scale. How can this be.
Assume that a corrective tax is placed on aircraft passing over a residential area that is located near an airport. Should the proceeds of the corrective tax be used to compensate those who are harmed by the aircraft noise? Explain.
What is the key problem with measuring marginal q? Is there an alternative measurement that can be used instead? Is this alternative measurement likely to be an accurate proxy for marginal q?
Contractionary fiscal policy and contractionary monetary
For a competitive firm facing a market price above average total cost, the existence of economic profits means that the firm should increase output in the short run even if price is below marginal cost.
Express Illustrate what will happen also why to the firm's average fixed costs, marginal costs, average costs also profits as the firm makes its choices.
An alternative to rent-control laws that would not reduce the quantity of housing supplied is:
Consider the production function q=4L^.3K^.8. K is not fixed in the long run. Graph the isoquant for Q=4. Identify and label 3 points on the graph. Calculate MRTS and determine slope of the isoquant of the three points you identified. label the slope..
Alex's Furniture Mart produces and sells tables in a perfectly competitive market. When Alex's Furniture Mart produces and sells 250 tables.
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