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If the rival does not enter, the firm will earn $15,000 if it introduces the new product, and revamping the production facilities will earn new profits of $60,000. What should the manager do? Why?
Show why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin?
Describe in your own words the profit-maximization point(use ASMs, RPMs, total revenue, and total cost in your answer).
How does monetary policy work to close an inflationary and recessionary gap using the keynesians model and what is the link? expalin an show raphically using the money supply-money demand graph, the
Using a single diagram of the saloon's demand curve and its cost curves, show the price and the quantity combinations favored by each of the the three partners. Explain
The life expectancy of a particular brand of hair dryer is normally distributed with a mean of 48 months and a standard deviation of 12 months.
Write a paper on the U.S. Federal Reserve's monetary policy that addresses the following points: Define the purpose and function of money
Which of the following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
Assume that the firms act independently as in the Cournot model (i.e., each firm assumes that the other firm's output will not change). Determine the long run equilibrium output and selling price fo
What is the price in dollars of the bond? What is the amount of the coupon interest payment you would receive each year if you bought the bond? (assume annual payments)
In the short run, how will the quantity of aggregate output supplied respond to the fall in prices? What will happen when firms and workers renegotiate their wages?
Suppose that the world price for steel is below the U.S. domestic price, but the government requires that all steel used in the United States be domestically produced
Assume autonomous net taxes fall by $800 and the MPC is 7/8. Net exports, planned investment, taxes, and government purchases are autonomous and remain fixed. As a result, saving will initially:
Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent. What would be the size of the U.S. labor force?
American smoke 470 billion cigarettes and the average price per pack was $2. If the price elasticity of demand is -0.4 and price elasticity of supply is 0.5, calculate the demand and supply linear
What is the name of the theory that predicts the "no-arbitrage" outcome outlined above? What does this theory predict about the term structure of interest rates in terms of how the yield of long te
Explain why the simple deposit multiplier overstates the true deposit multiplier.
Due to a growing US economy, the overall market demand for nails will increase by 2%. Based on this information, should you plan to increase or decrease your production of nails? Explain
Suppose that under the Bretton Woods system, the dollar is pegged to gold at a rate of $35 per ounce and the pound sterling is pegged to the dollar at a rate of $2 = £1. If the dollar is deva
The demand for good X has been estimated by Qxd = 12 - 3Px + 4Py. Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity.
Suppose that butchers and bakers had no unions. Now suppose the butchers form a union. What does this do the labor supply of and wages of bakers?
Clearly identify at least three such factors that in your view should be included in the GDP calculations. Explain and illustrate how they will help to improve the GDP as a tool for measuring the w
You have a choice of opening yor own business or being employed by someone else in a similar type of business. List 4 consideration in terms of opportunity costs that you would have to consider bef
Show on a supply-and-demand diagram and explain in words what will happen to the Canadian exchange rate compared to the foreign exchange rate when the world demand for lumber, wheat, and paper incr