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Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product. If current output is such that marginal cost exceeds marginal benefit, should more or less resources be allocated to this product? Explain.
For each of the following cases, calculate the arc price elasticity of demand, and state whether demand is elastic, inelastic, or unit elastic.
Approximate the distribution of the F-statistics for the three error distributions using the LINEST function to obtain the Whole Model F- statistic and the MCSim Add-in. Compare the three distributions and write up your conclusions.
aggregate demand involves the purchasing actions taken by consumers businesses governments and the spending by u.s. and
The question is, there have been two events that have occurred, first there is a significant decrease in the price of personal computers and the second is there has been an increase in the number of firms providing internet access. What will happe..
If banks desire to increase their lending, but the Federal Reserve is not adding reserves to the banking system, what will happen to the level of short term interest rates? Explain your answer carefully.
go the web site containing the penn world table and collect data on real gdp per capita chained series for 19770 for
Walden's Leather is part of a regional chain of stores that sells leather goods--mostly men's and women's clothing--with the upscale Walden's brand name. Walden's primarily relies on its own stores where knowledgeable salespeople offer great servi..
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 ..
Write a two page essay exploring the intellectual gifts of Islam. In the end, what was Islam's attitude towards the discoveries of ancient scholars and how did that relationship spark the Renaissance?
What do you predict you competitor will do given your price reduction and what is the total revenue each firm will earn given their respective pricing strategies?
5.1 Know about and analyze the "great migration" of African-Americans from the south to the north to obtain better employment prospects in the 20th Century; 5.2 Appreciate and know how to analyze the role of immigration and the immigrant experience ..
Identify whether each of the following events in this scenario occurs in the resource market or the product market - Determine whether each of the following would more likely be studied in microeconomics or macroeconomics.
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