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Q1. If a monopolist has an own-price demand elasticity of -.8, is it maximizing profits? Explain
Q2. What are some examples of behavior that at one time wire victimless crimes that are no longer criminal? What are some examples of behavior that were not victimless crimes that now are crimes?
Q3. Assume that the full-employment level of output is $5000 billion and the natural unemployment rate is 5%. Assume the current unemployment rate is 8%. What would be the current level of output according to Okun's law (when the Okun's law coefficient is 2)?
Illustrate what has been happening to wheat prices and what is likely to happen to wheat prices over the coming months.
Demand for good X has been estimated at Qxd = 12-3Px+4Py. Suppose that good X sells at $2 per unit and good Y sells at $1 per unit. Calculate the own price elasticity.
Elucidate the importance of credibility when evaluating a firm's potential moves.
She can earn an annual interest rate of 4% or a nominal interest rate of 3.95% compounded continuously. Which is the best option and at the best interest rate, what will the account balance be after 25 years?
Illustrate what would happen to the equilibrium price also quantity of lattés if the cost of producing steamed milk
assuming economy is in a long run equilibrium, show fraction of total output earned by labour and fraction of total output earned by capital. Explain why, in long run, firms make zero economic profits in this economy.
Does either player have a dominant strategy? Explain why or why not? Is there a dominant solution for this game? c) Identify the Nash equilibrium of this game. Explain.
The marketplace equilibrium price is $45 every bag. The price at a is $85 every bag. The price at c is $5 every bag. The price at f is $59 every bag.
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
John’s preferences over toothpaste (good 1) and beer (good 2) are represented by utility function u = ln x1+ x2. Prices are given by p1 and p2, and he has income of m. What fraction of his income does he spend on toothpaste?
q1. the basic concern of microeconomics isto keep business firms from losing moneyto prove that capitalism is better
Elucidate the implication of the efficiency wage theory for unemployment. In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficiency wages.
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