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Give an outline of the differentiating characteristics of perfect competition and a monopolistic market structure.
Discuss the profit maximizing position of a monopolist, in both the short run and long run?
A 'structural' budget deficit is one that:
q1. suppose bob considers borrowing 100 from sheila at a 10 percent interest rate. they both think that a 4 percent
Graph the following labor supply curves: The substitution effect dominates the income effect until the wage reaches $200, after which the income effect dominates. The income and substitution effects do not affect the worker’s decision. She wants to w..
This question asks you to use the Solow growth model to analyze the effects of immigration. Suppose output is produced with the production function Y = A(K/N)^α. Capital depreciates at rate δ, and productivity, A, is constant. The saving rate, s, is ..
Suppose that the annual federal deficit is $350 billion. Gross Domestic Product 'GDP', a measure of the size of the economy is $14.5 trillion ($14,500 billion). Calculate the ratio between the deficit and GDP as a percentage rounded to one decimal pl..
What effects does sleep deprivation have on cognition? Are people who are sleep-deprived cognitively impaired?
Describe the concept of derived demand. Discuss the link between derived demand and unemployment by providing an example from our economy.
What is the mechanism in the Solow model that generates growth? Why is this an appealing mechanism? Why does it fail to deliver economic growth in the long run
Suppose Home economy produces 2 goods, Food and Cloth, using labor, land, and capital. Land is specific to the Food sector and capital is specific to the Cloth sector. Labor is the mobile factor implying that labor and land are used to produce Food; ..
Why do marginal costs first fall and then begin to rise? Why are marginal costs important to a firm when making decisions to increase or decrease production?
A couple wants to save for their daughter’s college expense. The daughter will enter college 10 years from now and she will need $45,000, $46,000, $47,000 and $48,000 in actual dollars for 4 school years. Assume that these college payments will be ma..
Describe the implications Stanley Cavell’s ordinary language philosophy has on democracy and education. Provide an example of ordinary language philosophy. Examine the ideas of mutual reflection and mutual understanding as it relates to cultural diff..
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