User Account

All Pages

Long and short run equilibrium

Assignment Help Business Economics
Reference no: EM132264311

Suppose the labour force in an economy is 100, its long run employment rate is 95% and its labour productivity (GDP/E) is 100. If current GDP is 8500, the economy is in long and short run equilibrium.

Reference no: EM132264311

Questions Cloud

Estimating the retirement saving : An employee builds up $700,000 over his 40-year working life in a personal account that he plans to use in retirement.
Discuss the reasons political scientists : Discuss the reasons political scientists have identified for why people join interest groups. Elaborate on what interest groups do for their member
Describing the product and outlining your strategic approach : Write a 500-1,000-word paper describing the product and outlining your strategic approach to marketing this product. Discuss some of the social and ethical.
Doubling of aggregate output : Neoclassical growth theory implies that a doubling of the labour force leads to a doubling of aggregate output
Long and short run equilibrium : If current GDP is 8500, the economy is in long and short run equilibrium.
One-shot bertrand equilibrium as a threat : Consider the infinite repetition of the n-firm Bertrand game. Find the set of discount factors Delta for which full collusion (i.e. monopoly pricing) can
Money to buy two tickets : Should you ask your boss if you can use the money to buy two tickets? Why? in flying or lying in business class
Company and the capital budgeting methods : What are the impacts of the size of a company and the capital budgeting methods?
Total product per day and marginal product : (a) Compute the total product per day and the marginal product of labor for the first five workers.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd