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In defining demand and suply,why do you think economists focus on price while holding constant other factors,that might have an impact on the behavior of buyers and sellers?
A father goes to a pharmacy late at night for cold medicine for a sick child. There are many liquid cold medicines, all of which have almost exactly the same ingredients. Yet medicines with brand na
Using both version of the goods market equilibrium condition, equations Y = C^d + I^d +G, and S^d = I^d, find the real interest rate that clears the goods market. Assume that output equals full-emp
Gross domestic product understates the total production of final goods and services because of the omission of :
What is the difference between the firm's short-run supply curve and its long-run supply curve? Make up an actual example to explain your answer.
Critically discuss the impact of the financial crisis on the automobile industry's production and trade. Analyze the support measures that were taken by the governments to support the automobile sec
Explain, with the aid of diagrams, what policy measures can be used to combat cost-push inflation and demand-pull inflation respectively and comment on the possible side-effects of these measures
Are eBay's development of Kijiji, acquisition of Skype, alliance with Yahoo, and other acquisitions as noted in this case enough to ward off the competitive assaults of Google and Microsoft? Defend
Consider the following total cost equation:
Calculate and show the price-quantity combination graphically optimising the joint profit for thr guides. Calculate the social loss of welfare.
Which of the following is the defining characteristic of capitalistic economy?
Tomas produces 100 units of Good Y when the price is $5 and 150 units of Good Y when the price is $7. What is the value of Tomas's price elasticity of supply?
Calculate equilibrium price and equilibrium quantity for the following market demand and market supply schedule :
Explain how industrial regulation affects the market. Explain the entities affected by industrial regulation in terms of market structure.
The market demand function is Q=80-p. Determine the profit maximizing input use, the output price, and the monopolist's profit.
What are he pros and cons of using expansionary and contractionary monetary policy tools under the following scenarios; depression, resession, and robust economic growth?
The theory of comparative advantage states that gians from trade may be had if countries specialize and optimize their opportunity costs? Is opportunity cost the key to international trade in the re
What is the external cost per unit of production? What level is produced if there is no regulation of the externality? What level should be produced to achieve economic efficiency?
Make a list of the transition economies currently in the world. Also required is a list of the countries that are currently members of the European Union.
Identify the three main regulatory commissions of industrial regulation. Explain how these regulatory commissions govern industrial regulation.
Transition economies in Central and Eastern Europe. How did they make adjustment from central planning to market economy? What are the key aspects of supply-side reforms? (example: allowing the price
The question entails two manager discussing whether to hire a new employee or laborer. They are arguing over whether or not to hire a new employee because of diminishing returns. Should they hire a
Draw a production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes your a
Identify the area of consumer and producer surplus for the profit maximizing monopoly. Identify the deadweight loss for the monopolist. Now assume the federal government imposes a regulation on the mo
Methods for comparing different investment alternatives: present worth, annual worth, future worth, internal rate of return, external rate of return, benefit-cost ratio, MARR