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"If the amount of product differentiation in a monopolistically competitive industry is very small, the outcome in that market will not be very different than if it were a perfectly competitive indu
What are the determinants of supply? How is the supply curve impacted by changes in determinants? What is the difference between a change in supply and a change in the quantity supplied and what are
Question: Why does investment spending not equal saving in the circular flow?
Q1. Using the above data, determine GDP by both the expenditures and the incomes. Then determine NDP. Q2. Now determine NI in two ways: first, by making the required additions or subtractions from N
Suppose MPC is 0.8 initially. Households then change their behavior so that the MPC falls to 0.75. What happens to aggregate expenditures? Why?
Imagine the market for tablets (e.g. iPads), with downward sloping demand curve and upward sloping supply curve.
Imagine a standard aggregate demand and aggregate supply set-up. As you know, the British government has been reducing government expenditures to reduce fiscal deficit and government debt.
This purpose of this exercise is provide a glossary of economic terminologies so that a first year student can fully express terminology and an expanded presentation of what the GDP per capita invol
The most common measure of an economy’s standard of living is:
1. Distinguish between real and nominal GDP. Which one is a better measure of the business cycle? 2. What are the determinants of investment spending?
In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of
Please assist describing the following: Periodic Order Quantity (POQ), Economic Order Quantity (EOQ) and Material Requirement Planning (MRP) Lot-Sizing Technique Concepts.
All the same time, every month during the year, 38 different people become unemployed, and 38 other different people who were unemployed find jobs. There is no cyclical unemployment. a.) calculate t
Problem: Discuss the meaning of P = D/k. Identify the variables and spell out the assumptions related to the use of this "securities price" formula or model.
Calculate the totals change in a year's GDP. A family sells a home, without using a broker, for $150,000. They could have rented it on the open market for $700 per month.
1) Draw his budget line. assuming he is paid by the hour (and not the mile), what is his hourly wage? 2) Assuming he chooses to drive 10 hours a day, how many hours of leisure and how much consumption
Calculate: A. Quantity at which profit is maximized B. Maximum profit C. Quantity at which revenue is maximized D.Maximum revenue
(a) Depict the wage-schooling locus on a graph. (b) Derive the marginal rate of return to schooling curve. Depict on a graph as completely as possible.
1. For what ages will workers be paid above their VMP? 2. Show whether this firm opposes legislation prohibiting mandatory retirement for workers under 65.
If I have to layoff 19 employees because the company is upside down -$1878.00 after total cost. So, by cutting staff of 19 with a salary of $100 per day, an eight hour day, how much will I save?
Find two sources to help you answer the following questions about the industry you chose: Research any negative or positive externalities the industry produces.
Suggest some alternative or complementary strategies that Control Data might have used to deal with the problem. How would your strategy work in the short-run versus the long-run? Who would benefit
Question: In a perfectly competitive market, individual firms can not impact the market price of their good or service.
I know that when Total Revenue reaches its peak (TR=1), then the Marginal Revenue =0, but when Total Revenue exceeds its peak, what does the Marginal Revenue reach?
Month sales (x $100.000) of the South Pole Cream Company are shown in the following table. 1. Plot the data on a graph with time on the horizontal axis and sales (in hundred thousands ) on the vertica