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Suppose new suppliers enter the market due to the increase in demand, so that the new supply curve is Q = -500 + 10P. What is the new equilibrium price and equilibrium quantity?
If the company produced 100,000 units of goods, what would be its average variable cost? What would be its marginal cost of production?
Compute the average variable cost, average cost, and marginal cost for each function. Plot them on a graph (use values 1,2,3...up to 10 for Q).
Determine the point at which diminishing returns occur. Indicate the points that delineate the three stages of production.
Assume that money supply increases by 10%, the real GDP increases by 4%, and the Cambridge k remains constant at k = 0.10 (as in the classical model). What will be the new GDP deflator.
Suppose that the expenditure multiplier is 2.5 and the Treasury increases the government purchase of goods and services by 10 billion units. What will be the resulting change in the real GDP?
How would each of the following affect helenas handbasket supply of labor? the value of helenas home triples in an unexpectedly hot real estate market.
Stella Ann Freeman is having a difficult time deciding whether or not to purchase a new car. How would understanding the concept of opportunity costs help her make a decision.
Inside the POW camp, the price was 15 cigarettes per chocolate bar, and 40 cigarettes per loaf of bread. Is there an opportunity for beneficial exchange?
Highly inelastic demand in the United States, he is thinking about raisining prices to increase revenues and profits. Do you recommend this strategy based on the information he has obtained?
Krispy Kreme lowers its price of glazed doughnuts by 20%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
Provide a one page synopsis on the relative approaches taken by the North and the South with regard to tax policy. Which was superior and why?
The argument goes that inflated stock values were partially responsible for the strong U.S. economy of the 1990's. Explain this linkage in words and then illustrate with an Aggregate Demand/Aggregat
A major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions? Why?
The text argues that individual behavior was not at the core of Enron's problems. What were the problems with this corporation from an organizational architecture point of view?
Which data bases did you search? What combination of search terms did you use? Which methods resulted in the most hits? Which methods resulted in few or no hits?
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points? Calculate arc elasticity at the interval between P = 5 and P = 6.
Preserve the size of government and (b) a person who thinks the public sector is too large. How does the "ratchet effect" affect anti-inflationary fiscal policy?
If you were in charge of making changes to U.S. fiscal policy, what changes will you make given the current economic conditions?
Complete the columns for to determine the profit maximizing output for this firm. Draw the relevant graph to show the profit maximizing output.
If the prevailing market price is $14 per unit how much should the firm produce? How much profit will it earn at that output rate.
If her consumption of x is reduced to 0, how many additional units of y would she need in order to be exactly as well off as before?
Can it tap the retained earnings on its balance sheet to pay for its obligations? Will its equity book value go up or down?
Additional $80 per week for each $100 of additional income. Letting C represent consumption and Y represent income, the equation that summarizes this relationship is?
Do you believe that tax cuts are vital to help revive an economy in recession? Would a one-time tax cut or a permanent tax cut work better?