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If all the women in a country stay at home as housewives, are they counted in the country's labor force? If these people give up being housewives to work, will the country's GDP rise?
The total costs of a firm operating in perfectly competitive markets are described by the function C(y) = y^2 + 40y + 250, where y denotes the quantity (units) of output Y produced by the firm.
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
Why is that the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
The North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and Mexico whose purpose is to eliminate tariffs between the countries and promote all aspects of international trade. Opponents of NAFTA point ou..
Illustrate what are the factors that affect the supply and demand of the good or service. Who benefits more from a transaction of the good or service, the buyer or the seller. Generally speaking, why do people enter into trade.
What is the MC = Mr rule and profit maximization and does this rule represent a socially optimal position regarding price and quantity of goods and services?
Do you think the Fed's recent changes to explicitly tie the next policy moves to the unemployment rate and forecasts of future inflation is a move towards
What is the total market demand for polyglue at the price established by Alchem in Part (a). How much of the total demand do the follower firms supply?
What was Mill talking about when he wrote about the quality of pleasures?
Differentiated goods are NOT a feature of a:
A producer of ballpoint pens has been purchasing ink from an ink supplier and is considering acquiring the ink supplier. Would the pen company be more or less likely to vertically integrate by buying the ink manufacturer if the government taxes ink? ..
A country imports 5 billion tonnes of coal per year and domestically produces another 4.5 billion tonnes of coal per year. The world price of coal is $50 per tonne. Assuming linear schedules, economists estimate the price elasticity of domestic suppl..
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