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Long-run equilibrium price
If a representative firm with long-run total cost given by TC = 50 + 2q + 2q2 operates in a competitive industry where the market demand is given by QD = 1,500 - 40P, in the long-run equilibrium there will how many firms?
Assume that Nancy Pelosi declares that clay fire pits are causing global warming, and demand for fire pits shrinks substantially in the U.S.
Explain why do people who work at investment banks earn so much. What is the justification for capital requirements imposed by bank regulators.
Utilize the Heckscher-Ohlin and factor proportions framework with two factors, skilled and unskilled labor.
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
GDP per capita in a nation like Switzerland can have a low GDP per capita also still have a high standard of living.
Illustrate what additional economic questions might you be able to study that you wouldn't with a traditional brick and mortar retailer.
Select a U.S. multinational company. In terms of currency denomination, discuss how the firm prices its revenues and costs.
The annual demand for coffee by the U.S consumers is Q = 250 - 10P. Compute the lost consumer surplus?
What are the FC, ATC, AFC, AVC and MC at these output levels?
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 by using 2004 as the base year. By what percent did prices increase?
What is the difference between contractionary and expansionary monetary policy?
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