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Suppose a firm operates as a price taker in a perfectly competitive industry. The firm’s Total Cost function is given by TC = a + bQ +cQ2. Therefore the firm’s marginal cost is given by b +2cQ. Find an expression for the Breakeven Price.
In Westlandia, the public holds 50% of M1 in the form of currency, and the required reserve ratio is 20%. Estimate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table
You will be asked to collect five (5) newspaper articles relating to subjects we are covering in the class. As we cover the various chapters you should be actively searching newspapers/magazines to find articles.
What is the relationship among Japan and Korea's unemployment. What Trends do you see in the data set.
Illustrate why do economists pay more attention to national economies than state or regional economies.
Illustrtae the marginal product of labor.
Let’s consider the effects of inflation in an economy composed only of two people: Bob, a bean farmer, and Rita, a rice farmer. Bob and Rita both always consume equal amounts of rice and beans. In 2000, the price of beans was $1, and the price of ric..
What will happen to the money supply in a checkable-deposits-only system? a) The required reserve ratio is 10%, and a depositor withdraws $2,000 from his checkable bank deposit.
A person rents a home for which she pays the landlord $12,000 a year. The can can be bought for $100,000 and tenant has this much money in a bank account that pays 4 percent interest per year.
Draw a indifference curve and degree of substition betweem goods: When the two goods are imperfect substitudes for each other, and assuming diminshing marginal rate of substitution.
Jess and Larry are working on a project that requires them to spenda day together. Jess likes to smoke, and his marginal benefit fromone cigar a day is $20. The price of a cigar is $2. Larry dislikescigar smoke, and his marginal benefit from a smo..
Illustrate what is the amount of the producer surplus for Juan Carlos combined.
Draw the per capita production function and supporting curves to capture the economy and provide a brief economic explanation of the consequence of lower savings on long- term growth rates.
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