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1: Welfare analysis: Basic concepts
2: Individual demand and consumer surplus
3: Consumer surplus for a group of consumers
4: Consumer surplus for an individual and a market
5: Producer surplus for a group of sellers
6: Producer surplus and price changes
7: Total economic surplus
Illustrate what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources.
Business has fallen off greatly at your upscale restaurant because of the economic crisis. List four things you can do to win back the loyalty of your past costumers.
market failure poverty and income inequalitylisted below are several summary statements from the 2010 census reportthe
Assume that the demand for autoworkers declines significantly due to a decrease in demand for new automobiles. Explain what will happen to unemployment using both classical and Keynesian reasoning.
suppose a consumer has 150 to spend on food and clothing. food costs 4 per unit and clothing costs 5 per unit. the
Discuss the logic of a company setting and exercising the application of a mandatory retirement age and determine the pros and cons of the mandatory retirement practice from the perspective of the organization, economy, individual, or Nation?
Compute the Conventional and the Modified BCR for this project. Should this investment be made.
Brian and Allen are thirty years old with identical academic records and job history. Both currently have jobs paying $40,000 each year.
Consider current budget problem of many states. What is it Explain. What are the two basic choices for them to get out of financial trouble Explain the impact of each. Why are some states playing for a federal bailout if needed
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
1. let the gdp of an island be y 5000 its consumption given by the equation c 1200 frac34 y-t its investment i 1500
Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works. (c..
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