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Explain how competitive privately issued currencies would work automatically to provide consumers with protection against inflation?
Consider an economy in which the labor demand function is 40 - (W/P), the labor supply function is 40 + (W/P), the production is Y = 30 + 12L. Suppose the money supply is $333 and the velocity is 4. What is the equilibrium level of employment L* and ..
Suppose the U.S. government imposed a tariff on steel imports.
In the theory of the firm, economists consider the total cost Charles to be a function of the output level Q:C=f (Q) (a) according to the definition of a function, should each cost figure be associated with a unique level of output (b) should each le..
Suppose low-income people have preferences for non-food consumption (NF) and for food consumption (F). In the absence of any income transfer programs, a person's budget constraint is given by NF + PFF = I where PFF is the price of food relative to no..
Excess capacity is a problem in monopolistic competition because if there were fewer firms in the industry: The model of monopolistic competition characterizes a city's market for plumbing services. Suppose that the market is initially in long-run eq..
Distribution of costs and benefits of free trade. In other words, does everyone share in the gains and the costs equally? Competing with different labor restrictions (or lack of), such as slave or child labor. Differences in environmental standards.
The best way to do a sales analysis is to first break down sales by customer type, and then geographic region. Pricing objectives need not be explicitly stated. "Psychological pricing" involves setting prices which end in certain numbers, while "odd-..
Formal written assignment highlighting published current economic events or issues and explain how they relate to theories learned in this course.
How does the selection of an appropriate business model reflect ethical practice? Frame your ethical considerations from a Christian worldview.
Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to number of firms and firm profitability in the short run and long run.
Suppose that Omar’s marginal utility for cups of coffee is constant at 2.5 utils per cup no matter how many cups he drinks. How big would that budget have to be before he would spend a dollar buying a first cup of coffee?
Suppose an individual’s inverse demand for fish caught by a commercial fishery is estimated to be P = 10 – 0.4Q, where P is the price of fish (per pound) and Q is the quantity of pounds demanded.
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