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The supply of bottled spring water is very inelastic, but the demand for it is somewhat elastic. What does this imply about the incidence of a tax? Illustrate with a diagram.
Elucidate he is considering hiring students on a part-time basis for $40/hour, do you think he should do so.
Constrained Optimization in Economics 2. Minimize costs for a firm with a cost function Subject to the production quota
q.based on the production function parameter estimates reporteda. which industry or industries appears to exhibit
Combinations of goods on the production possibilities frontier
Find a numerical equaltion relating planned aggregate expenditure to output and to the real interest rate.
Explain the statement that "an individual bank has little ability to expand the money supply unless all the other banks expand in step". Does that simply because a conduct of one single bank cannot change the aggregate money supply?
elucidate classical economists stressed the long run?its your birthday and your uncle opens his wallet and gives you a
Illustrate what will be the consumer consumption of gasoline now and how much will be the amount of rebate.
q.jennas boss has decided to pay her a one-time bonus of 5000. she decides to save the money until she retires 4 years
Jane lives in a dormitory that offers soft drinks and chips for sale in vending machines. Her marginal utility for soft drinks (Good X) is equal to 3Yand her marginal utility of chips (Good Y) is equal to 3X. MUx = 3Y MUY = 3X Soft drinks are priced ..
A firm has the production function y = x1 + min{x1, x2}. Draw three isoquants for this firm. Does this firm have constant returns to scale?
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
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