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Suppose that Nabisco is willing to sell its first packet of Oreos for $1, the second for $2, the third for $3, and the fourth for $4. If the price of Oreos is $2.50, what is the producer surplus? (Assume that Nabisco CANNOT sell partial packs of Oreos.)
Answer whether the following statements are true or false, explaining your answer in each case.
the marginal revenue curve of a monopoly crosses its marginal cost curve at 30 per unit and an output of 2 million
Suppose the supply of dollars increase by 600 billion at each exchange rate. Explain if the increase in demand results from a large purchase b the Chinese of a new American-made airplane or a large purchase by Americans of new lower priced Chinese..
What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
Discuss and evaluate the two classical arguments for trade protection and restriction
The use of fiscal policy to achieve a noninflationary full-employment gross domestic product without regards to the effect on public debt or policy that balances the economy rather than the budget is known as?
Assuming the velocity of money remains constant, what will happen to prices in the short run? In the long run?
For each of the following events, state whether the aggregate demand curve would increase, decrease, or stay the same.
Suppose the relationships hold true and given performance below, what salary would you estimate for each player in 2006.
Assume that Okun's law holds so that a 1% increase in the unemployment rate maintained for one year reduces GDP by 3% of full-employment output.
Illustrate what would be the consumer purchasing response to Coca-Cola if the price of Pepsi doubled.
Do you think an international policy restricting currency trading amongst arbitraguers and speculators will prevent monetary problems in the future?
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