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Should the MR curve be straight with a monopoly when graphing marginal revenue, and is MR supposed to just equal MP?
How does building on undeveloped land differ from building on developed land from an economic standpoint? Discuss the land assemblage problem as it relates to urban renewal. List and discuss possible contradictions between the goals of urban renewal ..
Borrowing from Kalleberg, Lazonick, and Meyerson’s “How the American South…”, and “Forty-Year Slump,” compare and contrast the two macro employment systems (1945-1975 and 1975-present) in terms of key employment outcomes and indicate which system und..
elucidate why not and propose a mechanism that might solve your dilemma.
Suppose that EU imports of a food item from country A are regulated by means of a quota. Using appropriate diagrammatic analysis explain the welfare implications to EU from:
Suppose the welfare benefit formula is, How large is the benefit if wages equal. What is the breakeven level of income in this case?
Elasticity refers to the change of one variable because of a change in another. Price elasticity of Demand refers to the percentage change in demand of a good based on its percentage change in price. Changes in price and demand will affect total re..
Free zone would happen if the central bank lowered the federal funds rate and buy securities on the open market.
The government sets a price floor of $5 in the above market. Is this price control binding? If so, is there a shortage or a surplus and what is its magnitude.
It would not pay a firm to produce anything in the short run if price were:
There exist games with multiple Nash equilibria. All Nash equilibria are based on dominant strategies. No player wants to deviate from a Nash equilibrium. A Nash equilibrium is a mutual best response
q.mirk labs is a pharmaceutical company that currently enjoys a patent monopoly in europe canada and the united states
This is a point I find very confusing and very hard to justify to students. Depending on the books, one finds many different conventions regarding the sign of elasticities and marginal rate of substitution (MRS). Some define them taking absolute valu..
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