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How to determine the points for graphically representing the equilibrium(600000) which was derived from the equation, D=1500000-60000W, S= 120000W-1200000, with wage rate being $15 per hour at equilibrium.
Why is Germany now leading the charge for fiscal coordination? How has Germany’s reliance on the Eurozone countries contributed to its own economic slowdown?
In a market economy-supply determines demand and demand, in turn, determines prices. demand determines supply and supply, in turn, determines prices.
Variable-Margin Pricing If Ohio Desk Inc. sold mahogany desks at a 3% profit, steel managers desks at a 11% profit, and student desks at a 16% profit, (all at variable-margins), what would their overall profit be for the entire product line of desks?
Suppose a firm sells a good in 2 markets, each market is characterized by their own respective demand curve. Calculate the profit maximizing outputs and prices in each market assuming the firm can price discriminate. Calculate the own price elasticit..
The US changed the way we measure our economy from the position of Gross National Product to Gross Domestic Product. Through your own research, compare and contrast the 2 and, in your opinion, choose which one is better.
Which of the following is NOT a true statement regarding free trade?
A retailer has an exclusive license to sell a line of handbags. The bags are so distinctive that consumers do not consider any competing offerings to be close substitutes. The retailer thus can be treated as a monopoly. The demand for the handbags is..
Most nurses in the United States receive their education in community colleges. Mainly because of differences in class size, the cost of educating a nurse is about four times that of an average community college student. Community college budgets dep..
Why is it that some economists are suspicious that some of those who claim they are for 'free trade, but fair trade'.
Suppose that a firm is using quantity k of capital input and quantity l of labor input to produce output level q0. Further suppose that, at this input combination, the rate of technical substitution (RTS) is 2. Assume also that w = $1 and v =$1, wher..
Mississippi Delta, Inc. has been selling switching equipment to computer companies on net 30 terms, in which payment is expected by 30 days from invoice data. Concerned about deteriorating collection patterns, the credit manager has divided customers..
First degree price and third degree price discrimination work to increase a firm's profits by more accurately matching willingness to pay to the marginal costs of production. First-degree price discrimination works to increase a firm's profits by con..
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