Reference no: EM13982305
1. State in words and show with a graph the effect of the following events on equilibrium price and quantity of the market given
a) The price of cheese increases. Market: Pizza
b) A study is released showing that eating apples causes caner. Market: Apples
c) Income in the US increases by 20%. Market: Widgets, which are an inferior good.
2. Assume you live in an economy that has a population of 2,000,000 people over the age of 16. The labor force in your economy is 1,500,000 people and 1,300,000 people are currently working.
a. Calculate the unemployment rate
b. Calculate the employment rate
c. Calculate the labor force participation rate
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Discuss rigorously with detail analysis
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What additional information would you need
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Live in an economy that has a population
: tate in words and show with a graph the effect of the following events on equilibrium price and quantity of the market given. Assume you live in an economy that has a population of 2,000,000 people over the age of 16. The labor force in your economy ..
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Prepare a payable amortization table for 18 months
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: Two Cournot competitors, Nick Limited(O¨rm 1) and Junior LLC(O¨rm 2), face an inverse demand curve p = 400 2q in the market (q = q1 + q2). Both producers have a marginal cost of $10 per unit. What is the reaction function for Nick Limited? How many u..
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