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Define gross domestic product. Determine whether each of the following would be included in the 2012 U.S. gross domestic product: a. Profits earned by Ford Motor Company in 2012 on automobile production in Ireland
Smart University of Lafayette Indiana is a C.E.D. division of Smart University located in Gary Indiana. SU's goal is to maximize profits.. SU is currently maximizing the profit at SU of Lafayette by charging the profit-maximizing tuition rate. T..
The fiscal policy measure that has more direct impact on the economy is an increase in government spending if consumer confidence is lower than the previous month. One of the ways the President Obama stimulated the economy was through increased g..
Using the "Monopoly" model found in the Chapter 10 "Origin of Idea" module, explain why a monopoly will never operate in the inelastic portion of the demand curve? What are the underlying purposes of the antitrust policy in the United States? Thes..
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial a..
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year. each successive year yields a return that is $3,000 less than the previous year's return.
From an economist standpoint, why might there be more research, development, and innovation occuring in oligopolistic market structure than in any other?
When groups are formed, we want to consider how organizational structures, processes, and situations impact on group motivation, politics, and goals achievement. Alignment of all of these structural, personal, and interpersonal components will hel..
As part of your answer explain what happens when aggregate expenditure either exceeds or falls short of output in the current period and what impact this has on production in the next period.
Formerly, market for air travel in Europe was highly regulated. Entry of new airlines was severely restricted, and air fares were set by regulation.
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a downward sloping demand curve have some market power. 1.How does a firm..
Assume the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The firm has a marginal and average total cost of $50per unit.
Assume you own the remodeling company. You're currently earning short-run profits. The home remodeling industry is an increasing cost industry. In the long run, what do you expect will happen to:
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