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A monopolistically competitive sneaker firm is currently in long run equilibrium.
The United States is one of the richest nations in the world and bene?ts from high lev- els of TFP. What features of U.S. society do you think can explain this?
Consider again the problem described in appendix 3A, and show that the expected utility of a participating member of a ROSCA is increasing with the number.
In Surburbia the demand and supply curves for gasoline are given by the following equations where P is the price per gallon and Q is the quantity of gasoline in gallons: What is the slope of the demand curve? What is the slope of the supply curve
Using the circular flow (inner-tube) model for national income, what would be the effect of an increase in taxes, taken alone (that is, all other factors remaining unchanged)?
How do you calculate a dead loss weight in a demand and supply graph?
sometimes a bidder on a work contract may bid lower than what would maximize hisher profit from the contract and the
Sketch the LR ATC curve. Label the three regions of production. Label and define the point of minimum efficient scale.
Introduced the idea that the division of labor led to the great prosperity of Britain.
Suppose a monopolist is producing a level of output such that MR>MC. What should the firm do to maximize its profits?
Using these measures as examples, explain how use of the balanced scorecard can increase the economic value added within the organization.
What are the roles of transactions costs, economies of scale, economies of scope, and economies of team production in the design, manufacture.
Consider the interaction between inflation and the tax system (assume the inflation is expected). Does high inflation encourage people to save.
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