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The significant run-up in oil prices from 2005-2010 was an example of a. an aggregate demand shock that increased the price level and increased the rate of growth of real GDP. b. an aggregate demand shock that reduced the price level and reduced the rate of growth of real GDP. c. an aggregate supply shock that increased the price level and reduced the rate of growth of real GDP. d. an aggregate supply shock that reduced the price level and increased the rate of growth of real GDP.
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
Assume the military bureaucracy consistently misinforms Congress on total costs of producing military hardware. Suppose that it underestimates the actual costs and that the political representatives believe these estimates.
Explain the circumstances in which a monopolist may encounter a free rider problem and determine the senses in which a perfectly-discriminating monopolist is efficient or inefficient.
Why is income inequality regarded by many people as a form of market failure and describe how tax creditsare used in New Zealand to modify the distribution of income
How has the housing market crash affected urban sprawl and what do you think is the greatest problem facing the suburbs, especially if it is a growing area?
The upper graph is for perfectly competitive firm. The lower graph is for the monoploist. Employ the graphs to answer the following questions: What is the firm's Total Revenue?
Derive the firm's supply curve, expressing quantity as a function of price. Determine the market supply curve if North Carolina Textiles is one of 1,000 competitors. Compute market supply per day at a market price of $47 per unit.
Find out the socially efficient price, units of output and profits? How much output would a monopoly produce? Find out the price and profits of the monopolist?
find the equilibrium price and quantity of cigarette packs and what is the price received by producers? The price paid by the consumers? The new market quantity?
In your role as new human resources manager, you plan to make a series of videos with various situations. These situations will allow the workers to view real life sexual harassment issues that they may have to deal with.
There're 10 auto firms in this problem each showing their market share percentage (US auto industry). The proposed merger involves Ford 22% and BMW 1%.
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