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Suppose a consumer with an income of $800 is faced with Px =$7 and Py =$2. What is the market rate of substitution between good x (horizontal axis) and good y (vertical axis)?
Discuss at least two policy tools available to achieve the economically optimal rate of visitation in the face of congestion effects.
There may appear to be times when a firm does not appear to adjust input use to changes in relative prices of inputs. Explain why this might be the case.
Considering the following concepts such as GDP, unemployment, monetary and fiscal policy. Pick an recent newspaper article (New York Times, Wall Street Journal, etc.) that focuses on DELL INC. Describe the event and the issue for DELL INC. (summarize..
Consider the (world) market supply curve for oil. Saudi oil production inhabits the _____ part of the curve, and Canadian oil production inhabits the _____ part of the curve.
Globalization and technology developments have led to some significant changes in the global economy. Discuss the importance of such changes to the United States. What is the impact upon supply chains? Optional: Use your own company as an example
Use graphs, formulae and diagrams where they help your explanations (more rigorous and succinct) compared to words alone.
Sketch and explain in detail the graph of the original market for beef, then show and explain the impact of the pork advertising campaign.
With 50 different currency suppliers, that number could be large enough for us to assume this new national money market has the potential to be perfectly competitive. Would this money market be, in fact perfectly competitive or would it take a differ..
Suppose that the manager of a firm operating in a perfectly competitive firm has estimated the firm’s AVC function to be: Determine the firm’s supply curve. What should be the industry price for the firm to produce 400 units of output in each period?
Use each of the four model perspectives to answer the question: how did this all happen? In your view, was an appropriate Fiscal and Monetary Policy Response
Calculate and compare the labour productivity of the two options. Which one is better?
The market supply of labor is always upward sloping, but an individual’s labor supply curve may not be upward sloping throughout its entire range. Both the market supply of labor and the individual’s supply will both be upward sloping.
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