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Demonstrate analytically and show graphically that, in the Keynesian consumption function, the average propensity of consumption is always bigger that the marginal propensity when the autonomous com
Keynes said that "Jevons saw the kettle boil and cried out with the delighted voice of a child; Marshall too had seen the kettle boil and sat down silently to build an engine". Explain and discuss.
Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964, the Bush tax cut of 2001, and the Bush tax cut of 2003.
Develop an economic analysis and recommendation, on the current state of the U.S. economy in the areas of unemployment, interest rates, expectations and consumer income from a Keynesian perspective.
Derive graphically IS curve. Explain the following statement by using the tools of analysis that you have learned in the class:
Assignment: Suppose the NJ government decides to impose a $1,000 per student tax on colleges--each college has to pay $1,000 for each student enrolled. The supply curve of college education (before
a. Obtain an equation for firm’s short run total cost function. b. Does the firm have any fixed costs? Explain?
Identify and explain approches to measurement of national Income (NI) and Highlight major drawbacks associated with each aproach. Why is it difficult to compare NI statistics internationaly?
What's the value of a typical firm's long run marginal cost at equilibrium? Show the calculation of its value. How many firms are in the widget industry in the long run?
Two would-be wine makers (Mr. Ripple and Poor Richard) are contemplating entering the low end wine market in the country of Zuba. Two types of wine are being considered by both—Brown Bag
Q1. Determine the equilibrium market price and quantity. Q2. At the equilibrium price computed in (a) above, what is the quantity produced by a typical firm?
Are there any Nash equilibria here? Explain and show how the equilibrium might be supported. Which outcome would Sony prefer, and why? Be sure to discuss cooperative vs. non-cooperative
How effective is this monetary policy if the demand for loans is shrinking, even at a very low interest rate? Why would demand for loans decline if interest rates are declining?
Can you illustrate by using supply and demand graphs what happens to the equilibrium price and quantity in each of the following situations. Please dont forget to label the graphs.
Explain the concept of consumer surplus and utilize it along with a well-labeled diagram to show how disk drive consumers can benefit from the excess capacity in the disk drive market.
Assume that all firms are identical and that the market is characterized by pure competition. Question 1: Find the equilibrium price, the equilibrium quantity, the output supplied by the firm, and the
What is consumers surplus? Why does it exist? Why is consumers surplus at a maximum when the consumer purchases the quantity of a good at which P = MU.
If marginal revenue and marginal cost are not equal, a firm can maximize its profits by
Given a situation in a monopolistically competitive market (NOT a monopoly), if my price is $10 for an item and at my present rate of output, my marginal cost is $8 per unit (and rising)... Do I nee
An example that i've seen Supply and Demand in the real world is when you start college and you want to buy used textbooks. The supply of used textbooks is not enough for the demand of college stude
Monopolistic competition is characterized by: a. interdependent pricing and output decisions. b. significant barriers to entry. c. many firms producing differentiated products. d. firms facing a perfe
Which of the following firms would most likely be operating within an oligopolistic industry? a. A farm. b. A public utility company. c. A tire manufacturer. d. A restaurant.
Question 1: Determine the reaction function for the follower. Question 2: Determine the equilibrium output levels for both the leader and the follower.
Problem: In a competitive market with a downward sloping demand curve, a tax that increases the fixed cost of every firm will: 1) reduce the number of firms supporting long run equilibrium 2) increase
What are the marginal benefit and marginal cost of abatement at the socially efficient level of abatement?