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Describe the consumers' surplus if the wholesale price is set at $16. The supply function is. Describe the producers' surplus if the wholesale price is set at $19.
Bubba Burgers has discovered there are economies of scope available to the restaurant. Elucidate which is most likely to be a response to this discovery.
Assume that a price support system for cotton needs the federal government to pay farmers to not plant cotton.
Illustrate what is the profit-maximizing price-output combination and what are the levels of profits and consumer surplus at that point.
Find the short-run supply curve of the firm and the marketplace. What is the price, quantity, profit/loss for each firm. Is this industry in the long-run.
Elucidate the production possibility frontier and opportunity cost.
Thailand can produce a bushel of wheat in 12 hours and a cd player in 2 hours. According to the law of comparative advantage , who should produce wheat and who should produce Cd palyer. Calculate al
Examine the changes in equilibrium price and quantity. Events affects the equilibrium price also quantity of pizza.
Assume you own a barbershop/saloon. You are prefering lowering the price of either haircuts or alcoholic drinks. The real elasticity of demand for haircuts is 1.36 and for alcoholic drinks is 0.62.
Explain how did low interest rates combined with increased government spending on defense and homeland security alter the US economic outlook.
Illustrate what is the process by which a recessionary gap closes itself explain. Why might this self correcting mechanism work slowy in the face of a recessionary gap ?A diagram might help here.
Elucidate the macroeconomists position on trade defilicts. Assume an economy has overbuilt and suffers from excess capacity.
Under what situation would the energy-efficient automobile described here be economically efficient.
steelmakers can not afford to lose any sales as per their costs, especially their fixed costs, are so high. What does this statement mean.
Elucidate how advertising can be employed to allow Tots-R-Us to keep price average above cost without encouraging entry.
Illustrate what price should Dr Williams charge to perform a nose operation. Explain how much profit does she earn each month.
Which of following statements are regarding the price or earnings ratio is false?
How do the concepts of the accounting profit and economic profit diverge? Why is economic profit smaller than the accounting profit? What are the three fundamental sources of economic profit?
Illustrate wage determination in the labour market in which workers are unorganized and many firms actively compete for the services of labour.
What do you mean by monetary transmission mechanism?
Describe the difference between conditional convergence and un-conditional convergence.
What do you mean by GDP deflater? Describe its role in the measurement of the economic performance.
Illustrate the meaning of Golden Rule of Capital accumulation?
Describe the shape of the long run average cost curve if production is subject to:
If the Average Variable Product of Labor curve is dome-shaped, Average Variable Cost Curve is U-shaped. Describe.