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The market demand is given by Q=320-8P. Monopolist's MC=10. a. Calculate the profit maximizing monopoly output and price. b. What is the Lerner-Index of market power for this monopoly at this price and output? c. What would the perfectly competitive market price and output be for this example?
Elucidate the roles of government bodies which determine national fiscal policies.
You are in the market for a used car. At a used car lot, you know that the blue book value for the cars you are looking at is between $20,000 and $24,000. If you believe the dealer knows as much about the car as you, how much are you willing to ..
Answer the next three questions on the basis of the following production possibilies data for Francia and Galacia. All data are in tons.
One of the key features of the law that created the Federal Reserve System was that the Fed was to remain autonomous from the influence of the President and Congress. Recently, there have been calls that the Fed lose autonomy and even eliminated a..
Based on the analysis of the data, share your thoughts on what caused the financial crisis and whether the United States is going in the right or wrong direction with its current policies.
Describe the extent to that you believe these three measures are related.
Suppose the demand curve for a product is given by Q = 300-2P+4I where 'I' is average income measured in thousands of dollars. The supply curve is Q = 3P - 50.
Fill in the missing data for price (P), total revenue(TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (π), and marginal profit (Mπ) in the following table:
Suppose that the government imposes a proportional tax on the representative consumer's wage income. That is, the consumer's wage income is w (1 - t) (h - l) where t is the tax rate, and h is the working hours and l is the leisure hours
Utilizing the link and the instructions to follow, create a graph of the US GDP relative to Debt from the period 1981 to 2010.
What does the Fisher Effect say about the relationship between the nominal interest rate (e.g., the federal funds rate) and the inflation rate?
Describe the creation of money from excess reserves and multiple deposit expansion in banking system. How does the multiplier affect the supply of money?
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