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What do we call the events occurring in 1973 when the Organization of Petroleum Exporting Countries put an embargo on oil shipments to the United States and several European countries?
At what level of employment would diminishing returns set in for the variable input?
a. consider a competitive market supple and demand model. if there are no externalities explain why economists describe
Explain any other differences among selling the mobility product in the United States and selling it in your three targeted countries.
The price of beef is $ 1.50 per pound, and pork is $ 2.00 per pound. Assuming you have studied economics and achieved consumer equilibrium.
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use w..
kywalker Farms supplies water to the town of Mos Eisley (they are \the water company", i.e. a monopoly supplier). Given their infrastructure of pipes, treatment centers, etc, the marginal cost of supplying one gallon of water is only $.50 (and is..
Write down the equation of the budget line.
If you assume that wealth (W) and investment (I) remain constant what are the equilibrium levels of GDP (Y), consumption (C), and savings (S) ?
The standard of living for the poorest third of the world is falling behind the standard for the rest of the world and is not improving very quickly. What are some factors that might influence the economic status of such countries? What measures coul..
Suppose the monopolist faces the following demand curve: P = 180 - 4q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. What is the value of the deadweight loss created by this monopoly?
One basic popular voting scheme is rank-order voting, where individuals assign a rank (1,2,3) to the possible alternatives; the assigned ranks are then added up and the alternative with the lowest sum wins. Consider a choice among the 4 alternativ..
Describe an important insight of Keynesian economics (aggregate supply and demand equilibrium, aggregate expenditures and income expenditures equilibrium) and give an example.
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