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Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume that natural resources are being rapidly depleted. What would happen to the Production Possibility Frontier over time? How would invention and technological improvement modify your answer? Graph the PPF for each scenario to illustrate.
competition and efficiency - use your understanding of pricing and output decision under different market structures
the econanalyst corporation is a think tank located on 15 prime acres of seafront property in miami florida.
the u.s. has experienced large and growing current account deficits for more than 20 years whereas japan has
Assume that the book printing industry is competitive and starts in a long-run equilibrium. Make a diagram describing the typical company in the industry.
What is average productivity? What is marginal productivity? Explain the relationship between average and marginal productivity. What would happen to average and marginal productivity if a technological innovation were introduced to the production..
use the phillips curve to describe the tradeoffs between inflation and the unemployment rate both in the short-run and
How large is each individual consumer surplus? How large is total consumer surplus? Calculate producer surplus by summing the producer surplus generated by each sale.
Am I right in saying an isoquant for an output produced using 2 inputs that can be perfectly substituted for each other can be represented by a straight line
in the 1990s five firms supplied amateur color film in the united states kodak fuji konica agfa and 3m. from a
Describe, using diagrams where appropriate, the market for rental accommodation before and after the introduction of rent controls.
Proponents of government spending claim that it provides public goods that markets generally do not, such as military defense, enforcement of contracts, and police services. Standard economic theory holds that individuals have little incentive to ..
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
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