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Write a letter to a future student, indicating:
Why you liked or disliked about macroeconomics
What you have learned
Your experience of working on the integrated final project. What could have been done differently?
How you can help the future students to be successful in this course
Now suppose the parameters of the model take the following values. what is the growth rate of output per person in this economy? what is the initial level of output per person? What is the level of output per person after 100 years?
Your friend makes half of your salary and pays 20% in income taxes. Elucidate rate most likely would be your income tax rate.
What is the difference between price ceiling and a price floor? If a price ceiling for a good is set below the market equilibrium, what will happen to the quality and future availability of the good? Explain.
The given is natural logarithmic function. Ln(Q)=-0.23-0.34ln(P)+0.45ln(P2)+1.33ln(I). What is the price elasticity of demand for raspberries? What is income elasticity of demand?
Explain what do you think McDonald's new launch will have a sustainable impact on its bottom line.
Suppose you purchased a ticket to a concert for $30 a month ago. Last week someone invited you to a party on the same night as the concert. You would much rather go to the party than the concert. You have tried unsuccessfully to sell the concert tick..
Suppose three firms compete in prices in an homogeneous good market. Their costs are the same, mc = 10 (marginal cost). Find the equilibrium prices of this game. (Are there many equilibria? If so, notice what all of them have in common).
Evaluate the following statement: "when the economy is in equilibrium in the ws- ps model, there is only voluntary unemployment, because no agent has an incentive to change their behavior"
Monopoly Price is the same level where MR meets MC. Monopoly Demand is the Average Revenue. Airline Ticket is the Peak-Load Pricing. Electricity is the Intertemporal Pricing. Amusement Park fees are the Two-Parts Tariffs.
Given our still currently high unemployment rate (by historical standards) and low inflation rate, argue "for or against" a Supply-Side policy focus versus a Demand-Side policy emphasis.
A firm has the production function y = x1 + min{x1, x2}.
X-Corporation produces a good (Called X) that is a normal good. Its competitor, Y-Corp makes a substitute good that it markets under name "Y." Good Y is an inferior good. How will demand for good X change if consumer incomes increase.
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