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Q1. Referring to the output and substitution effects, explain why an increase in the wage rate for autoworkers will generate more of a negative employment response in the long run than in the short run. Suppose there are no productivity raise and no change in the price of non-labor resources.
Q2. Price (Pg): $10100 (tuition)Quantity: 27868 (enrollment)ε = -0.5 for price elasticity of demandη = 2.0 for price elasticity of supply if we increase price by 5% how much it will effect Q?
Q3. Explain the difference between macroeconomics and microeconomics.
Under monopoly, still with the price PW which is again label triangle of consumer surplus and the triangle of producer surplus.
What do you think the sign and magnitude of the Cross-Price Elasticity of Demand would be between premium juices and soda.
In 2020, Ahmed decides to invest in a wind turbine that would produce and sell electricity to the local electric utility. He decides to buy a smaller, used turbine.
What would you expect to be the effect on interest rates if the Fed held the money supply constant.
Then make an argument for why the government may still prefer using the other approach.
The no-trade equilibrium in Foreign. How do the relative no trade prices of computers compare in Home and Foreign.
Fully explain your answer in a way that shows your understanding of monopolies. Your paper should be two to three double-spaced pages and formatted according to APA style as outlined in the Ashford Writing Center.
With Australia going through a long-lasting drought in the first decade of the 21st century, serious concerns were raised about the possibility of running out of water.
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
calculate the price elasticity of demand for each product and compare with your teammates' elasticities.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit?
Despite this finding, the government mandates that new cars have air bags, rather than taxing their use. Is this policy a contradiction.
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