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There are 2 regions but they were given by different each other function of demand and supply. 1. We won't sell these products on both regions and you can't transport the product each other.So please
What two kinds of changes in the capital stock can improve labor productivity? How can each type be illustrated with a per-worker production function? What determines the slope of the per-worker p
The market in which the assumption of continuous market-clearing seems to be LEAST applicable is the: a) stock market b) market for wheat c) labour market d) market for federal bon
Assume that gross national debt is equal to $3million and the federal government then runs a deficit of $300 billion. What is the new level of gross national debt?
Consider a perfect competitive market. Analyze in detail using graphical tools what would happen to the number of firms and firm profitability in short run and long run if demand for product falls and
A monopolist faces market demand given by P = 200 – Q. For this market, MR = 200 – 2Q and MC = 3Q. What quantity of output will the monopolist produce in order
A linear trend equation for sale of the form Qt = a + bt was estimated for the period 1993-2007 i.e. t=1993, 1994, 2007 The results of the regression are as follow: Dependent variable : Qt, R-Squ
Ross Perot added his memorable “insight” to the debate over the North American Free Trade Agreement (NAFTA) when he warned that passage of NAFTA would create a “giant sucking sound&r
You are considering quitting work for two years to earn an MBA. Your current job pays $25,000 per year (after taxes), but you could earn $55,000 per year after taxes if you had a MBA at Southern
Suppose that bicycles are produced by a perfectly competitive, constant cost industry. Which of the following will have a larger effect on the long-run price of bicycles: (1) a government program to
Suppose that the equilibrium quantity in the market for widgets has been 200 per month. Then a tax of $5 per widget is imposed on widgets. The price paid by buyers increases by $2 and the after-tax pr
Q AC MC 1 4 12 2 8 20 3 12 28 4 16 36 5 20 44 6 24 52 7 28 60 8 32 68 9 36 76 suppose that there are 70 firms in operating in the industry. using the
When developing short-run cost curves, it is assumed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses. Contrast this to the rea
Recently one of the nation’s largest consumer electronics retailers began a nationwide television advertising campaign kicking off its “Take It Home Today” program, which is designed
You produce shoes. Currently you produce 4 pairs of shoes at a total cost of %40. a)what is your average total cost (ATC) b)Suppose you could produce one more fifth pair at a margi
Explain how output per capita can grow faster than labor productivity. Is it possible for labor productivity to grow faster than output per capita?
Using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price and quantity.Demand refers to the ability and willingness of a co
Jim left his previous job as a sales manager and started his own sales consulting business. He previously earned $70,000 per year, but he now pays himself $25,000 per year while he is building the new
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue? Continue producing at the current outpu
Suppose the production function is Y = 100(K3/10)(EN)7/10 and capital lasts an average of fifteen years. The rate of population growth is 0.5%. The rate of technological progress is 2.5%. The saving r
Hinduism, Confucianism and Buddhism are three of the world’s great belief systems. Compare and contrast their impact on the societies that embraced them. Although Hinduism, Confucianism and
The price received by sellers in a market will decrease if the government.A. imposes a binding price floor in that market. B. decreases a binding price ceiling in that market. C. decreases a
How large would a corrective tax need to be to move this market from the equilibrium outcome to the socially-optimal outcome? A. An amount equal to P' minus P. B. An amount equal to P'.
Harold owns a cranberry bog in which he grows cranberries. Harold’s farm is a competitive, profit-maximizing firm. As such, Harold much decide. (i): how many cranberries to sell.&n
Payroll Tax- You are an economic consultant to a city that just imposed a payroll tax of $1 per hour of work. This payroll tax is paid by workers through a payroll deduction; for each hour of work, th