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Draw the area of consumer surplus on your graph. Draw the area of producer surplus. Calculate consumer surplus as the sum of the difference between the price and the marginal utility for each pie.
Calculate the marginal revenue she gets for each additional sale as the change in total revenue (price times sales). Graph this and show the new quantity of sales and the new price.
Most economists think this is a good description of the economy in the short-run and the long run. d) does change real GDP. Most economists think this is a good description of the economy in the lon
What would you tell him? Suppose that marginal tax rates were reduced to 20% as part of the tax bill. How does this change your answer?
The company until after the program is over (program may run between 6 to 18 months. In offering such training programs, is a company violating the optimality rule? explain.
Another firm has a production function f(x1, x2, x3, x4) = min{x1 + x2, x3 + x4}. What is the vector of conditional factor demands to produce 1 unit of output when prices are w = (1, 2, 3, 4).
What would happen if all countries in the world simultaneously tried to improve employment and the balance of payments by imposing tariffs?
A 20-cent gasoline tax in introduced,coupled with $160 annual tax rebate per household. will the household be better or worse off under the new program.
Calculate the cost of actaurially fair insurance in this situation and draw a utility income graph to show that the individual will prefere fair insurance against this loss to accepting the gumble i
Explain the difference between Discretionary Fiscal Policy and Automatic Fiscal policy (built-in stabilizers). Provide an example of each.
Discuss the problems of measuring productivity in actual work situations. How might productivity be measured for each of the following industries?
Derive the expression for marginal revenue and use it to find the output level at which revenue is maximized. Confirm that this is greater than the firm's profit-maximizing output and explain why.
Explain which of the policies is most effective and least effective for this country ? Provide a rationale with your answer. This posting cannot have citings and has to be in your own words..can this
Use your graph to assist in explaining the likely unintended effects of such a price control. Be sure that your graph is completely and correctly labeled.
The insurance company is taking in order to provide coverage on the individual. Do you think you can apply this to big business in the US?
In a perfectly competitive industry, the industry demand curve is horizontal, whereas for a monopoly it is downward-sloping.
How large is the money supply? B. How much excess reserves are there? c. What is the money multiplier? d. What is the available lending capacity?
New equilibrium price and quantity and show them on your graph. Compute how this policy affects consumer surplus, and the cost of pollution. Would you recommend this policy?Why?
Households deposit $15,000 in currency into the bank and that currency is added to reserves. What level of excess reserves does the bank now have?
The game is named for the fact that person 2 is unable to "punish" person 1 for making a low offer. Find the subgame perfect equilibria of each game.
But he is happier when their consumption is more equal. Draw Gary's indifference curves. What would they look like if he loved one child more than the other?
Decide whether each of the following events is likely to generate a positive externality, negative externality, or no externality at all. Explain.
House values, and the real interest rate falls by 2 percentage points, in what direction and by how much will the aggregate demand curve initially shift at each price level? In what direction and by h
What does it mean when asked; What are some considerations to remember given the different roles and people in the audience?
Part time workers looking for full time jobs ,10. What is the size of the labor force? what is the official unemployment rate?