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Which of the following types of costs is more relevant when making production decisions? a) Marginal costs b) Sunk costs c) Fixed costs d) Average costs
Explain how the Fed's use of its three tools of monetary policy affect supply and demand in the market for reserves and the equilibrium federal funds interest rate.
Describe the process in the money market (demand and supply of/for money) by which the interest rate reaches its equilibrium value if it starts above equilibrium. (Principles of Macroeconomics)
Describe the externality that arises from plastic bags. Draw a graph to illustrate how plastic bags create deadweight loss. With 70 percent of all plastic bags coming from grocery, drug and convenience stores, inJuly 2008, Seattle imposed a tax of 2..
Discuss the Institutionalise s theory of production and distribution. Note: a discussion of the Veblen an dichotomy, and how it fits into the theory of production and distribution should be included in your answer.
Indicate which curve shifted (demand curve, supply curve or both) and in which direction – for each of the following situations: *The price of furniture rises as the quantity bought and sold falls. *Apartment vacancy rates increase while average mont..
Illustrate how the market, if left alone, would move us out of the recessionary gap. Also, explain all, if any, fiscal policy steps that can be used to lift us out of the recessionary gap. Explain which method, the market or fiscal policy, do you ..
Suppose El Centro California decides to tackle the problem of nitrates in the water. Nitrates are compounds derived from synthetic fertilizers that are not assimilated by plants and leached out into the underground water and affect the human health. ..
The Murphy County Fire Department is considering two options for upgrading its aging physical facilities. Plan A involves remodeling the ?re stations on Alameda Avenue and Trowbridge Boulevard that are 57 and 61 years old, respectively. Use an intere..
It is a hot day at the beach. Ice water costs $2 per bottle and this is your only option. Your marginal benefit for water follows the equation MB = $10 - $x. x is represents the number of bottles of ice water you have had. So, for example, the margin..
Since August, automobile inventories have been rising. Moreover, recent unemployment numbers suggest that European economies will grow more slowly than expected. What direction are auto prices likely to go?
Differences between process explanations and instructions. Describe the differences between the two types of documents.
For the following production functions: calculate marginal product of labor (L), marginal product of capital (K), and the technical rate of substitution. Identify if the production function exhibits constant, increasing, or decreasing returns to scal..
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