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Refer to the four market characteristics of perfect competition, can we classify the online retail industry (e.g. Amazon.com) as a perfectly competitive firm? If not, which characteristic is not satisfied? Please explain your answer in the language of economics.
What is the 95% confidence interval for the amount of time spent on personal issues?
Discuss the impact of a favorable supply shock (technological breakthroughs) on the equilibrium price level (P) and output level (Y). Also, discuss how the Fed could accommodate a favorable supply shock. Discuss in detail how the price level and outp..
How much interest is in the sixty-fourth payment? How much principal? D. How much interest is in the sixty-eighth payment? How much principal?
1. Suppose the central bank changes its interest rate rule to set a higher value of the saving real interest rate for a given level of output.
Demand-pull inflation occurs when:
Our statistics students were asked to rate their admiration of Hillary Clinton on a scale of 1 to 7. They also were asked to rate their admiration
What lag in discretionary policy is described in each of the following statements? Why do long lags make discretionary policy less effective?
The city of Bugnussle is considering exceeding the runways of its municipal Airport so that commercial jets can use the facility. The land necessary for the runway extension is currently farmland which can be purchased for $350,000. Construction cost..
Use the money market and FX diagrams to answer the following questions about the relationship between the British pound (£) and the U.S. dollar ($).
There are 2firms to consider here from 2 different indusrties. A firm in Indusrty A has MC of production=$150 and they know from historical experience that their Lerner index is 0.35. Determine the optmal price that both firms should be charging.
On a set of axes, sketch a concave production frontier. Starting near the midpoint on the production frontier, use arrows to show that the nation incurs increasing opportunity costs in producing more of X (the commodity measured along the horizont..
How do legal restrictions on practice for nurses and physicians tend to affect the observed elasticity’s of substitution? Would elasticity tend to be higher if legal restrictions were removed? Would quality of care be affected?
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