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Suppose that a monopoly computer chip maker increases production from 10 microchips to 11 microchips. If the market price declines from $30 per unit to $29 per unit, marginal revenue for the eleventh unit is?
Which of the following will not increase worker mobility?
Can you explain how fiscal policy (making changes to government spending and taxes) would affect aggregate demand (AD)? How do these two mechanisms of expansionary policy differ? What were the major areas of disagreement between John Maynard Keynes a..
Assume that student marks are normally distributed. A random sample of 25 students' marks yield a sample mean of 70 and a sample standard deviation of 10. Estimate the population mean of marks with 95% confidence.
Where, q is the quantity demanded at price p when the person’s income is I. Assume initially that the person’s income is $40,000. Show your work/ calculations. At what price will demand fall to zero? At a price of $10, what is the price elasticity of..
A developer is considering including a private waste water treatment plant in a small residential development. The city requires the developer to provide funds to cover the construction cost of the plant and to cover the maintenance and operations co..
What impact would you expect this increase in the gap in living standards between the richest and poorest to have on income elasticity today? Briefly discuss.
What is the current rate of inflation or deflation? Which one do think might be more disruptive for an economy, and why? Describe a policy in the AS-AD model that would reduce inflation from the current level. Do you the U.S. should adopt this policy..
q1. use the internet to research an oligopoly not discussed in the text. from the e-activity describe the oligopoly you
explain why sharp decline in oil prices might not necessarily have positive or negative impact on the US equity markets (stock market) even at the current trend of volatile oil prices
Mrs. Siegal has two alternative activities to help relieve her backache. In the first, she can visit a physiotherapist. The total time for a physiotherapist visit, including travel and waiting, is two hours. Mrs. Siegal earns a wage of $20 an hour. P..
Jeff is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour up to 1,200 hours per year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Jeff works, the go..
How we justify assumption that individual demand curves have a negative slope. If y do not, then we may not be able to add them to get market demand.
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