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What is the terms-of-trade effect of growth? What is the wealth effect of growth? How can we measure the change in the welfare of the nation as a result of growth and trade when the nation is too small to affect relative commodity prices? When the nation is large enough to affect relative commodity prices?
suppose you are currently earning 15 an hour. if the inflation rate over the current year is 10 percent and your firm
Gov. Expend. Tax rev. 170 90 450 170 110 550 170 130 650 170 150 750 170 170 850 Refer to the accompanying table for Waxwania. a. What is the marginal tax rate in Waxwania percent The average tax rate
explain how the values (how to calculate them) for Marginal Physical Product and Marginal Revenue Product First Column: Number of workers Second Column: Total output Third Column: Marginal Physical Product Fourth Column: Marginal Revenue Product
From the scenario, assuming Katrina's Candies is operating in the monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:
Suppose Sue and Joe agreed to collude and jointly maximize their profits. If Sue and Joe were to be able to repeatedly play the game shown earlier and they agreed on a penalty for defecting from their agreement, what is the likely outcome of the
Suppose a consumer has an income of $1000 and faces prices Px = $5 and Py = $10. (a). Write the equation for this consumer's budget constraint. (b). Draw the budget constraint, placing Good X on the horizontal axis. Label it BC.
Yesterday bank A had no excess reserves. Today it received a new deposit of $5000. a) If the bank maintains a reserve requirement of 2 percent, what is the maximum loan that the bank A can make
What are the relative strengths and weaknesses of these arguments and supporting evidence compared to other readings this week or this term? (5 or 6 bullets)
a) What is her willingness to pay b) If she had bought the iPod on sale for $70,what would her consumer surplus have been c) If the price of an iPod were $200,what would her consumer surplus have been
the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B. Does this mean that George would be just as w..
Plot graphically the demand and MR curves for each market, and also show GGC's combined marginal revenue curve (?MR) and its MC curve. Show graphically the quantities that should be produced and sold, and the prices that should be charged, in each..
Compute the ATC for the small plant and large plant.
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