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What would happen to consumer and producer surplus? How much money would the government collect due to the tax? What would be the size of the resulting deadweight loss relative to the comepetitive o
Does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?
Explain how an increase in the minimum wage affects the employment of unskilled workers. Ms. Smith should hire workers as long as their marginal revenue product.
(a) Forecast the index of housing starts in the United States in 1998 by exponential smoothing with w = 0.3, and w = 0.7.
Do some research on ideagoras, InnoCentive, and similar sites, and then write an analysis that shows how they impact or modify a manager's usage of the production process. 500 word minimum.
What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed.
The right decision compensatory and non-compensatory. Define them and show how does the later help the consumer in recommending a car among three brands?
As businesses downsize in a recession, they lay off a lot of people. Which of the 4 types of unemployment will then occur? Can you describe how unemployment and inflation are interrelated?
A perfectly competitive firm facing a price of $10 decides to produce 100 widgets. If its marginal cost of producing the last widget is $12 and it is seeking to maximize profit, the firm should?
Analyze the following statement, and show what would happen in the long run if such advice were followed by the Fed: "The increase in the stock market has increased people's wealth.
what would happen in the very short run to output and the real interest rate? What must happen to the LM curve and the price level to restore general equilibrium? Draw and label the graphs.
what are the short-run effects on the real interest rate and output? Assume that, when the economy is in disequilibrium, only the labor market is out of equilibrium.
How are corporate profits taxed in the United States. Earnings are taxed first as personal income then as corporate profits at the federal level.
Will their combined output of cashews be too little, too much, or just right to achieve allocative efficiency? In the long run, what will happen to the supply of cashews and the price of cashews?
Economists from the Conference Board predict that income will be rising 3% over the next year, and AB's management is planning to raise prices 2%. You expect that the number of AB motor control devi
What was the size difference between the two - the negative GDP gap? If the multiplier was 2 in that period, what was the size of the economy's recessionary gap?
Create a table showing both the origional values and the new values you have calculated. Which of the changes, (a) through (d), cause the greatest change in GDP in absolute dollars?
Suppose the government decides to increase taxes by $50 billion and to increase transfer payments by $50 billion. What effect would there be on aggregate demand?
A is advertising expenditures ($) Determine the demand curve faced by CPI in atypical market where P=$5, Pop 1,000,000 persons I=$25,000 and A=$10,000.
The world price will be $1, a one-third probability that it will be $1.5, and a one-third probability that it will be $2. His cost function is C(Q) = 0.01Q2. The expected profit maximizing quantity
Greengene's landlord rejoices, saying, "according to the leftover principle (i.e., profit equals rent), you will pay me $300 more in rent." Under what circumstances is the landlord incorrect?
How much money would the government collect due to the tax? What would be the size of the resulting deadweight loss relative to the comepetitive outcome?"
The elasticity of Investment (I) with respect ot technology (A) is greater than 1. Explain the impact of technology shock on the consumption and investment.
He is able to produce 4,400 bushels of wheat when he hires 3 workers. Which of the following possibilities is consistent with the property of diminishing marginal product?
monopoly has the cost function, TC = 1/3Q3 - 5Q2 + 23Q + 25, where TC is the total cost and Q is the output. What is the profit-maximizing level of output, if the market demand is given as Q = -2p