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Assume that the firms act independently as in the Cournot model. Determine the total profits for each firm at the equilibrium output found.
Provide a least two historic examples of asymmetric threats faced by the U.S., describe the nature and source of the threat.
What is the weather like? What are the industries? How elastic will the price of hot coffee be in both locations? Be sure to consider the impact of climate.
What are the determinants that may cause this Investment demand curve for the U.S. economy to shift? Which one (1) of these determinants do you think is most important to the U.S. economy today (Fall
Your author mentions five (5) determinants that might shift the Consumption Schedule of the economy. What are these 5 factors.
Explain how the indifference curve and budget line apparatus are used to derive a consumer's demand curve. For a demand curve, certain things are held constant.
Suppose that the output gap is zero but policy markets want to reduce the inflation rate from 10% to 5%. Which of these policies seems best?
Portland and Aleland are two identical countries. Beer manufacturers in each country compete under monopolistic competition. How does trade affect the productivity of surviving domestic producers in P
Will price be higher or lower under such an agreement in long-run equilibrium than would be the case if firms didn't collude? Explain.
Imagine a simple economy with only two people, Leroy and Percy. If the social welfare function is W=UL + UP, and the utility possibilities frontier is UPF=UL+2UP, what will be the societal optimum?
A graph of their Current Accounts over time. Indicate years with high CA deficit as well as surplus. Indicate how the government deficit or surplus correlate with the fluctuations over time.
If Argentina wanted to pay off their U.S. dollar debt after the peso devalued, how many Argentine pesos would it cost given the new exchange rate you just calculated? c. What would this mean for Arg
Compute the elasticities for each variable. On the basis, discuss the relative impact that each variable has on the demand.
By what percentage did the price level, as measured by this index, rise between 1984 and 2005? What were the amounts of real GDP in 1984 and 2005?
Why is one more reliable than the other for comparing changes in the standard of living over a series of years? What is the GDP price index and what is its role in differentiating nominal GDP and re
Short-run marginal cost is constant at $65, average total cost is $95, and average fixed cost is $30. Is this firm making the profit-maximizing decision? If not, what should it do?
if the manager wants to increase his sales of a tall caramel macchiato by 6%, in what direction and by how much doe he need to change the price?
Suppose that the price of a bottle of vitamins is $1.33 and that at that price the total quantity demanded by consumers is 75,000,000 bottles. How many firms will there be in this industry?
Its pet food sales declined dramatically becausd of a competitor across the street started selling the identical food for $22 per bag. Should Roscoe's Rascals match the price offered by the competit
Under the "Product" section, change the item to rice, or paintings. Which product did you expect to have a higher index of intra-industry trade, and why?
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Graph all three curves. What is the relationship between the marginal-cost curve and the average total cost curve? Between the marginal-cost curve and the average-variable-cost curve? Explain.
Calculate average fixed cost, average variable cost, and average total, marginal cost for each quantity. What is the efficient scale of the painting company if one house costs P300 to be painted?
In which of the three cases, if any, do you think that supply has increased more rapidly than demand? In which of the three cases, if any, do you think that demand has increased more rapidly than su
How are protectionist policies from other countries predicted to affect China's relative supply and relative demand? Hint: draw a relative supply-relative demand diagram to help you with the logic.