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Q. Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 193 of your text. Set up only the first two columns (1) and (2).
Graph the Consumption Function.
Add Investment to the graph.
What is the multiplier?
What is the Break-Even level of Income? (Do not include Investment)
What is the Equilibrium level of Income? (Include Investment)
What would be the new equilibrium in this economy if Investment increased by $12?
An experienced salesman offers his service (help you perfectly price discriminate) for $800. Based on c) and d), do you accept the salesmans offer? Show work, and explain briefly.
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price.
Describe the characteristics of optimal contracts in principal-agent problems when the agent (manager) is risk neutral.
q1. why cant money have the same value and look in every country?create a flow chart or table that describes the
How it may be possible for increases in the minimum wage to have little impact on employment levels. Please explain using the following concepts: long-run versus short-run; b
Discuss one recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
what was equilibrium price of a box. Is this long run equilibrium price. how many firms are in this industry when it is in long run equilibrium.
Suppose the price of clerical time remains at $7.50 per hour. How high would the price of an hour of computer time have to be before the firm would find it worthwhile to use only clerks to process the payroll?
Discuss why a corporation would want to enter a country with a high political risk and benefits that would need to be present to outweigh risk. Provide specific examples to support your response.
Explain how much is the dollar overvalued/undervalued. What do you predict the U.S. real exchange rate with the United Kingdom will be in one year's time.
q1. assume the price elasticity of demand for heating oil is 0.7 in the long run also 0.2 in the short run. if price
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