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Models of Economics
Create a chart that compares and contrasts the theories including the main theorists, a selection of countries using each model, and a summary of where the economic power lies (i.e., people, market, government).
In addition to the chart, write a synopsis on the following:
Submit your assignment by Day 7.
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A corporation bought a machine for $100,000 four years ago. It was being depreciated on a straight line basis over five years. The company decides to replace this machine today.
Consider a firm with the following Cobb-Douglas production technology: f(k; l) = [k^(3/4)l^(1/4)] Suppose the firm faces competitive factor markets and wants to minimize the production cost of producing y units of output. a) Write down the firm's cos..
Illustrate what additional economic questions might you be able to study that you wouldn't with a traditional brick and mortar retailer.
1. The slope of the total product curve is: 2. Marginal product, mathematically, is the slope of the:
Answer the following problem from the chapter on Aggregate Supply and Aggregate Demand: Based on our discussion in class, use the AS-AD model to graph the following issues with economic growth and instability:
the development of a new product was much lengthier and more expensive than the company's management anticipated. Consequently, the firm's top accountant and financial managers argue that the firm should raise the price of the product
Evaluate the result in (2) from perspectives of efficiency and equity drawing upon price/cost margins for your explanation. You may want to also consider issues involving the stability of collusive cartels.Then tell us what that means for rational ..
Select a U.S. multinational company. In terms of currency denomination, discuss how the firm prices its revenues and costs.
With the unemployment salary at an hourly rate of $7.25 do youbelieve that this helps our economy, does it hurt oureconomy Should it be higher as there are other states andcountries that have a higher base salary for unemployment.
Describe how the quote “declining dollar, while boosting US exports, is adding to inflation pressure as goods priced in foreign currencies become relatively more expensive” relate to the aggregate demand-aggregate supply model.
Solve for the price elasticity of demand for the following goods and then determine if the good is elastic or inelastic. Show your work.
What we probably won't see is a significant increase in construction. The market still has plenty of existing inventory to work through before more homes are needed.
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