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Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. a. How do you know that the industry is in long run equilibrium? b. Suppose that there is an increase in demand for this product. Show and explain the short-run adjustment process for both the firm and the industry. c. Show and explain the long-run adjustment process for both the firm and the industry. What will happen to the number of firms in the new long-run equilibrium?
What would you do if patent law prevented your rival from cloning your product.
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant?
Assume that Erin now has preferences such that she prefers the cash gift. Using a separate graph from part (a), graph Erin's optimal choice before and after gift.
Compare the risks of borrowing in the form of debt and receiving FDI in the form of equity. If debt is generally considered more risky to borrowers than equity, why is so much borrowing by foreign nations in the form of debt rather than equity?
q.you are thinking of investing in a field which may have commercial oil amounts. depend on the existing data of the
For an annual market interest rate of %9, calculate the economic life of the machine. Show the results of your calculations on a graph.
In your paper, write your first-person account of how human interactions in your community have been realized.
When consumer is provided a $50 gift certificate that is good only at store X, she moves to a new equilibrium at point D. Prices of goods X and Y. Explain how many units of product Y could be purchased at point A.
A firm has just increased its price by 35 percent over last year’s price, and it found that quantity sold decreased by 45 percent. The firm comes to you and wants to know its price elasticity of demand. What additional information would you search fo..
Which of the following is NOT an argument offered by the text as an argument against population and birth control?Fertility reduction is not worth the medical risks of using the medical means of population programs.
Three stores have a problem with theft, and security is a public good. Let’s use S to stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 100 2..
Many students are surprised to learn that employees may be fired for any reason not expressly prohibited by the law. As we have seen, the law requires employers to accommodate a fairly wide range of employee behaviors and conditions. However, there a..
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