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Show the basis for our construction of the output DEMAND function. As an intermediate step explain the construction of the consumption function (as a function of output) and how this becomes a key component of the output supply function.
Critically discuss that there is no satisfying theory that explains the behavior of firms in oligopoly markets. Which theories should I include in the analysis and give some examples relevant to these theories?
The primary reason for the creation of the Federal Reserve System was (a) the desire to reduce or eliminate bank panics. (b) the desire to stabilize short-term interest rates. (c) the desire to eliminate state-chartered banks. (d) the desire to cr..
suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete . the firm has fixed costs of $10 million per year and a variable cost of $1 per bag no matter how many bags are produced.
Utilizing an aggregate supply and aggregate demand diagram, show why this self-correcting process involves only temporary periods of inflation or deflation.
Explain the principles of microeconomics apply to other country. Describe any differences or special situations.
Findout the number of hours of skilled labor also the number of hours of unskilled labor which minimized the price of doing the project.
Assume that all states adopt a serious no-fault rule to cover automobile accidents, so that it becomes impossible to sue for damages after an accident.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
The government levies an excise tax of 5 cents per unit sold on the sellers in a competitive industry. Both supply and demand curves comprise some elasticity with respect to price.
Assume the United States government determines that the cigarette smoking creates social expenses not reflected in current price of cigarettes in the market.
Explain how does the Leontief paradox challenge the overall applicability of the factor-endowment model.
Cash, Accounts Receivable, Office Equipment, Legal Database Subscription, Accounts Payable, Common Stock, Dividends, Legal Fees Earned, Salaries Expense, Rent Expense, and Utilities Expense. Prepare journal entries and record the following October..
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