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Intermediate good is a good a. produced in a previous year the GDP does not include intermediate goods even if they are sold during the current year b. produced in a previous year the GDP includes intermediate goods only if they are sold during the current year c. purchased for use in producing another good the GDP does not include sales of intermediate goods d. purchased for use in producing another good sales of intermediate goods are included in GDP.
In a perfectly competitive market for electricity, suppose the total cost (in dollars) of generating electricity is given by C(Q)= Q2+100Q, where Q is the unit of electricity produced. Derive the supply of electricity in this market. Graph the elasti..
where α is the market potential, e is the advertisement “effort”, and γ is its marginal impact on sales. The cost function for the effort is represented by (1/2)ke2 where k is a constant. Find the Stackelberg equilibria for the following two scenario..
Assume that a Swiss watchmaker imports watch components from Sweden and exports watches to the United States. Illustrate what is the relationship among disposable income and consumption expenditure.
We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restrict..
If a nonbinding price floor is imposed on a market, then:
In the case of a perfectly price-discriminating monopoly, there is: On Black Fridays, most retail outlets have major storewide sales. Yet, as one of the busiest shopping days in the United States, one would expect prices to increase, not decrease. P..
Suppose after submitting your sealed bid in a Vickery austion you find out that they have lost the auction(you were not the highest bidder); However, you have the opportunity to revise your bid. Would you go ahead and change your bid? Why or why n..
In your paper also include the opposing position along with your rebuttal (of that opposing position). For instance, if you wrote a paper arguing that political parties are beneficial (and why), then your rebuttal would be that political parties are ..
Which particular market could an economist examine using microeconomic analysis on? How would it be applied? What is the purpose of microeconmic analysis for this market and how does it help this market in particular?
The Einstein Bagel Corp. has used a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps, she receives one dozen bagels free. If the opportunity set has any kin..
Discuss in detail any two supply-side policies and how they are supposed to work, and describe more generally the supposed benefits and disadvantages of supply-side policies as opposed to expansionary demand management policy options
Construct a response to the Federal Reserve actions aimed at lowering long-term interest rates
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