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Assignment:
Suppose there is a fall in demand for shoes, which are provided in a constant-cost industry.
a) Does the price of shoes change by more in the short run or the long run?
b) Does the industry-wide quantity change by more in the short tun or in the long run?
c) Does the quantity provided by each individual shoemaker change more in the short run or the long run?
d) Do the profits of the shoemakers change by more in the short run or in the long run?
Yet we saw in this chapter that the United States is a substantial net debtor to foreigners. How, then, is it possible that the United States received more foreign asset income than it paid out?
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abc corp. owns a piece of land and building a few miles from its headquarters. the land originally cost abc 500000 to
Define economic profit. Explain how economic profit is different than accounting profit. Why is it important for economists to measure economic profit rather.
The expected revenue impact for the organization from your plan
Suppose there are two consumers A and B. The marginal rate of substitution of A is MRS = Y /X , A A A and that of B is MRS = Y /X. Draw an Edgeworth Box.
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Organized labor argues against open immigration while U.S. industry argues in favor of more open immigration Your friend says.
Wtite a two Page Paper Economics on Ford Motor. The first step to this project is that you will assume the role of a manager with Ford Motor Company.
Say that technology is relatively labor intensive if it uses more labor to produce the same amount of output than the other technology. Which technology A or B is labor intensive?
Draw Island's PPF for bananas and fishing boats. Measure bananas on the horizontal axis and fishing boats on the vertical axis. Be sure to 'den* the numeric values of the two intercepts in your drawing
Explain the use of cost-benefit analysis in managing environmental matters. Evaluate its appropriateness as a decision-making tool for environmental issues.
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