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Derive the total fixed cost and total variable cost schedules of the firm, and from them derive the average fixed cost, average variable cost, average total cost, and marginal cost schedules of the
Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences.
However, lower interest rates spark more lending for business growth, home and auto purchases, etc. How has economic policy affected the lending institutions today? If inflation rises how will it af
The quantity of gadgets sold per week. The firm's marginal costs are given by the equation MC = 16Q. When the monopolists maximizes profits the price elasticity of demand for widgets is?
If Argus Corporation produces 8,000 vacuum cleaners per month, what is the estimated average variable cost? Marginal cost? Total variable cost? Total cost?
What is the demand schedule for Belgium cocoa beans now that U.S. consumers can also buy them? Price of Belgium cocoa beans Quantity of Belgium cocoa beans demanded Quantity.
The future direction of the macroeconomy. What websites can help gain a better understanding of where the economy is heading in the next 12 months?
A and B, two products, X and Y, and two inputs, L and K. You may use either Edgeworth Box diagram or perfectly competitive market system.
For each of the following changes, what are the short-run effects on the real interest rate and output? Assume that, when the economy is in disequilibrium.
So the Fed needs to increase the money supply, since with higher income, people's demand for real money balances will be higher." Draw and label the graphs.
What if the shock was really due to people's reduced expectations about their future income. Which variables did you forecast correctly, and which did you forecast incorrectly?
What is the slope of the leakage schedule? Also, if a bank has $5 in vault cash plus $200 in liabilities with a required reserved ratio of .20 and a desired excess reserve ratio.
How does the existence of money reduce the costs of making transactions relative to a society based entirely on barter?
When discussing the maximization of utility, regardless of whether you chose to work more hours or fewer when offered a higher hourly wage, you could not be wore off than you were at a lower hourly
Suppose a U.S. citizen deposits $10,000 in a foreign bank and the foreign bank uses the $10,000 to buy dollar-denominated assets in the U.S. Then: The U.S. has experienced a net capital outflow.
Which of the following is true for a small open economy with perfect capital mobility but false for a large open economy with perfect capital mobility?
What are the demand and MR oF CDW over the last couple of months? Over what range will changes in marginal cost have no effect on CDW's profit-maximizing level of output?
Consumption equals 15 billion, and investment equals 2 billion. What is the value of goods and services purchased by the government of Nemedia?
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoner's dilemma.
Quantity demanded is 10 units. Based on this information, what is the marginal revenue resulting from an increase in output from 9 units to 10 units?
Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit is $6, marginal cost of the 500th unit = $7, and AVC of the 500th unit = $5. Based on this informa
Explain the effects of an increase in consumer spending on the short-run macroeconomic equilibrium. Explain the effects of an increase in exports on the short-run macroeconomic equilibrium.
Calculate the price elastcity of demand for coffee when the price decrease from R3.10 to R2.90. Inteprete the elasticity calculated in 1.
The model suggests that cutting the budget deficit may boost output, even in the short run. Discuss these propositions with the help of appropriately labelled diagrams.
What are the short-run equilibrium values of output, Y, the price level, P, and the unemployment rate, u? What are the long-run equilibrium values of these three variables?