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Suppose the demand schedule in a market can be represented by the equation QD = 500 -10P, where QD is the quantity demanded and P is the price. . Also, suppose the supply schedule can be represented by the equation QS = 200 + 10P, where QS is the quantity supply and P is the price.
Suppose the price is currently equal to $10 in this market. What problem would exist in the market? What would you expect to happen to price to solve this problem? Show this on your graph.
Contrast comparative and absolute advantage. Is it possible for a country to have a comparative advantage in producing a good without also having an absolute advantage? Explain.
Why do some economists believe the Fed needs to unwind monetary policies instituted during the recession? What is the risk in doing so?
What is the study of economics about? How is microeconomics different from macroeconomics?
Suppose a consumer’s preferences are represented by the utility function U(X,Y) = X*Y2. Therefore, • MUx = Y2 • MUy = 2XY Also, suppose the consumer has $180 to spend (M = $180), PY = 1, and that they spend all of their money on goods X and Y. Also, ..
A manager needs to find out some information that is located in two tables. The SQL clause will be used to combine these records as follows:
Competitive Market Surplus. Suppose demand and supply conditions in the competitive market for unskilled labor are as follows: P = $15 ? 0.3QD (Demand) P = $3 + $0.1QS (Supply) where Q is millions of hours of unskilled labor and P is the wage rate pe..
The table illustrates the demand and supply schedules for television sets in Venezuela, a "small" nation that is unable to affect world prices. Draw a separate diagram. Again I want the change in Consumer surplus, change in producer surplus, change i..
According to the Stolper-Samuelson theorem, would you expect all workers across the globe to favor limiting trade given that due to technological advances, production of most goods the world over are capital intensive? Why or why not?
What can you conclude about relationship between the slope of a curve and its inelasticy? explain in nontechnical way why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment
Provide examples of businesses taking advantage (profiting from) the recent drive to “go green” (environmental consulting, etc). What are the advantages and disadvantages of going green for a company? What are the differences between John Maynard Ke..
q1. a corporation is offered trade credit terms of 315 net 45 days.the corporation does not take the discount and
If crowding out is a significant problem, then when the government borrows to increase its spending the real interest rate will ____________ and the equilibrium quantity of loanable funds will ________________.
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