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Suppose all firms in a perfectly competitive market structure are in long-run equilibrium. What effect, if any, will the tax have on market adjustment?
The economy is doing well in 2000. Income was rising and the stock market hit new record highs. As a result, the price of housing rose.
What are the pros or cons to banking on the internet? Express your views about taxes in general and your views about income taxes.
If other firms in the industry sell PCs at $600, what price and quantity of computers should you produce to maximize your firm's profits?
Make sure you explain why people are psychologically motivated in the particular way that you suggest.
Describe the three main factors that determine aggregate money demand.
a. Find the equilibrium price/quantity combination for bus rides. b. How much is spent on bus rides? What is consumer surplus in dollars at this equilibrium?
a. Find the equilibrium price/quantity combination b. How much in total is spent on broccoli? c. What is consumer surplus in dollars at this equilibrium?
Can you please explain fully the difference between an increase in demand and an increase in quantity demanded
What is the "real" exchange rate, and why are changes in it more important than changes in the nominal exchange rate.
Make the argument, pro's and con's, for returning to the gold standard. List the positive and negative effects of reversing the current policy.
What caused the market to come to equilibrium, if indeed it did.
With this size facility, determine the output level of the firm, the number of workers it employs and the profit of the firm.
What is the equilibrium price? What is the equilibrium quantity of supply and demand?
Question: Is price a tool for changing surplus situations?
Briefly explain why capital is the fixed factor in the short run, and not labor.
Did this price increase affect the supply curve for clothing? If so, how?
Illustrate market equilibrium using supply and demand curves? Differentiate between movement along and shift of the demand curve?
With rent controls being placed on apartments for low income individuals, could all of them be able to get such housing using the demand and supply theory?
What would happen to the price of a pair of jeans if the following happened? Belts for jeans went up? Many styles of jeans are introduced?
Why are earnings on the labor market are not always proportional to abilities?
Task: This solution shows graphically what happens to quantity sold when a price ceiling or a price floor is imposed.
The parties claim that they will be able to eliminate double marginalization if they merge. If they are right, what will be the change in consumer welfare?
Graphically illustrate short run supply. Also include on your graph the long-run aggregate supply curve.
What does your adjustment process imply about the CR for the industry?