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7 people have jobs, 3 want to work but are not, and there are 20 adults. What is the participation rate?
Q. What is the basic function of Central banks? A central bank is a public authority which is responsible for monetary policy for a country or a group of countries. Two signifi
Explain why P=MC in the short-run equilibrium of the perfectly competitive firm, whereas in the long-run equilibrium P=MC=AC.
Only two identical firms i = A;B, each with marginal cost MCi = 40 and no fixed cost, operate in a market with demand: Q p 1 160 2 120 3 90 4 70
It is reported that 16% of American households use a cell phone exclusively for their telephone service. In a sample of eight households, find the probability that: A) None use a c
You should now find a press release from the Board of Governors of the Federal Reserve System, dated December 16, 2009, which discusses the decisions of the Federal Open Market Com
Suppose the utility function is given by: u(x,y) = 3x+4y. What kind of goods are X and Y and what is the MRS?
Which of the following equations is FALSE for perfectly competitive firms? A. Total cost = fixed cost + variable cost B. Marginal cost = change in total cost / change in quantity o
illustrate and discuss the implications of variou market structures (competitive and noncompetitive) for price determination
Absolute income hypothesis
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