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Give two reasons why the marginal cost curve is upward sloping. You will want to use a graph(s) as part of your answer. Be sure to explain in words what your graph(s) are showing.
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
St Atanagio is a remote island in the Atlantic. The inhabitants grow corn and breed poultry. The accompanying table shows the maximum annual output combinations of corn and poultry that can be produced. Obviously, given their limited resources and..
Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the yea..
The GDP deflator is better than the CPI at reflecting the goods and services bought by consumers. The CPI is better than the GDP deflator at reflecting the goods and services bought by consumers. The GDP deflator and the CPI are equally good at refle..
q.assume that country a has a population of 500000 moreover only produces one good car. country a produced 100000 cars
How can having panel data (with T=2 and n sufficiently large) help solve the omitted variables problem if the omitted variables are time invariant (don’t vary over time)?
What is the total purchase of tennis racquets? Why? What is the consumer surplus? Why? What is the increase in consumer surplus when the market price drops to $ 50? What is the increase in producer surplus when the market jumps to 80?
q.consider the application of the demand-revealing process to land assembly that we discussed in class. we defined d as
q1. suppose the environmental standard is too stringent. what does this imply about the relationship between the msc
tate in words and show with a graph the effect of the following events on equilibrium price and quantity of the market given. Assume you live in an economy that has a population of 2,000,000 people over the age of 16. The labor force in your economy ..
When the addition of one more unit of input results in a smaller increase in output then the previous unit, what type of return is occurring?
what rate of interest would she need to obtain her goal. Are cash payments that companies make to shareholders. Are cash payments that companies make to shareholders.
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