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Q1. "1. At point E in figure 8.4b, is MP k/r greater or less than MP l/w? 2. Explain how do you know? 3. Use this inequality to Elucidate Explain how the firm can increase output without increasing its total cost by using a different combination of inputs.
Q2. Discuss Explain how "Game Theory" can be used to improve strategic decision making in competitive situations.
Q3. If the cubic total cost function described in the text applies to the production of output by a firm, and a=0, b=400, C=-50, D=5, Illustrate what are the equations for the firm's TFC, TVC, MC, AFC, AVC, and ATC?
On aggregate demand does fiscal policy have a strong impact. Explain the shift of the federal budget from deficit to surplus during the 1990s weaken aggregate demand.
Give an example of a government created monopoly. Is creating this monopoly necessarily bad public policy?
Is it advantageous for all countries to utilize cheaper labor or does importing your goods.
Illustrate what is the average time in the system. Illustrate what is the probability there are more than three cars in the system.
She says the tax will generate $100,000 tax revenues per month. What assumption is she making.
If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium.
Explain the strengths and weaknesses of using monetary policy in comparison to fiscal policy when promoting economic activity.
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
both the short run and the long run assuming that the government takes no action in response to the oil price increase.
If the government raises your marginal income tax rates and uses the money in a way that does not affect you in any way.
Does the existence of poverty imply that our socioeconomic system is unjust. Does the concentration of poverty in certain groups make it more unjust than it would be otherwise.
the demand for electricity and the concept that nuclear is cleaner than coal and who the special interest groups are that's involved
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