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Is writing a technology? Is a lecture a technology? Why or why not.
What kind of market do you believe Uber drivers most closely resemble - perfect competition, oligopoly or monopolistic competition and why?
Elucidate what happen to the prices of oranges and marginal product of orange pickers as a result of a freeze. Can you say what happens to the demand for oranges pickers. Why or why not.
Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X*Y UB(X,Y) = 2X + Y The initial endowments are: A: X = 4; Y = 2 B: X = 4; Y = 6. What is the marginal rate of substitution for consumer A at the..
Consumer surplus is
Consider Chad, who expects to live for two periods: “now” (period 0) and the “future” (period 1). He earns an income of Io= $20,000, dollars now, and I1= $5,000 in the future when he will be retired from his full-time job. Use a consumer’s choice dia..
FORUM: Please respond to this thread with about 3 paragraohs, thank you! Here, in this forum, I expect you to talk about issues related to exchange rates - their impact on national economies when they change, their different equilibrium concepts (PPP..
The law prohibits all cigarette billboards and makes it illegal for cigarette ads to be posted in shopping malls, movie theaters, stadiums, and other public spaces frequented by minors. What argument might tobacco companies make against the federal s..
Frances sells earrings in the perfectly competitive earring market. Her output per day and costs are as follows: OUTPUT PER DAY TOTAL COST 0 1 1 2.5 2 3.5 3 4.2 4 4.5 5 5.2 6 6.8 7 8.7 8 10.7 9 13 a) If the current equilibrium price in the earring ma..
Explain by how much did real GDP increase between 2002 and 2003. Velocity in the country of Shem is always stable.
Consider the following examples of prices. For each example, determine whether or not price discrimination exists and explain why or why not.
In 1990 Sweden had a gdp of $69 billion (measured in us dollars) and a population of 5.0 million. in 2010, Sweden had a gdp of $157 billion
If average price of GDP increases, what happens to quantity demanded of real GDP in Aggregate Demand?
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