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Write a one sentence explanation of the meaning of the consumer's marginal rate of substitution (MRS) at the optimal consumption bundle. Include the numerical value of the MRS in the sentence.
Do not try to explain people's tastes, but they do try to explain what happens when tastes change.
Consider the following competitive firm in the short run: What is the profit maximizing condition for this firm? Is this firm making a profit or a loss in the short run?
If the marginal benifit curve to carbon emission reductions is relatively flat (relative to the cost curve), explain why a tax might be preferable to a cap-and-trade system
Illustrate how do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components? How does all this fit on a Wheel of Income.
What is the current unemployment rate and inflation rate for Norway and the United States? I am trying to calculate the misery index for both countries and I know it is the sum of both the unemployment and inflation rate.
q1. a growth at a rate of 2.5 may seem slow but this means a country gdp will double within 28 years. 100 10.02528 200
What is budget deficit and how is it related to Government debt? What is cyclical adjustment to deficit and how does it help to understand the stance of fiscal policy? What is crowding out? How does budget deficit crowd out investment? Why a high lev..
Under the guidance of a good manager, a monopolistic ally competitive firm spends an optimal amount of its revenues on advertising. Last month the firm spent $2,500 of its 510,000 revenues on advertising. If its advertising elasticity was 0.5, what w..
Wagner Industries preferred stock has a par value of $50 and a stated dividend rate of 6.0%. This means that Wagner will pay $3.00 (6% x $50) in dividends per share, per year forever. There will never be an increase or decrease in the dividend. Suppo..
In the short run, what is the fixed cost for this firm? Find the break-even price and the shutdown price. What would happen if the market price was equal to $1 per unit? Does the firm maximize its profit by producing 10 units? If no, which quantity m..
Two hospitals want to merge. The price elasticity of demand is 0.20, and each clinic has fixed costs of $100,000. One clinic has a volume of 9,200, marginal costs of $70, and a market share of 3 percent. What are the total costs, revenues, and profit..
explain how changes in equilibrium occur as a result of changes in fiscal and monetary policy.
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