Keyenes consumption function appears to explain consumption
Keyenes consumption function appears to explain consumption over the short run but not consumption over the long run - why?
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A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find the output that maximises this monopolist’s profits. What are the prices at profits and that output? Find the elasticity of demand at the profit maximising output.
If the market-clearing price is 6, obtain the profit maximising level of output.
GDP rises from 6 trillion in 2001, base year, to 12 trillion in 2008. the gdp deflator is 180. Find real GDP in 2008. Find the percentage increase in real gdp between 2001 and 2008.
In the two sector economy where there is no personal tax,how is personal income related to personal consumption expenditures and personal savings?
Suppose the elasticity of deamnd for cereal is 1.If cereal increases in price by25%, how much will the quantitiy demanded decrease by?
President Obama campaigned on the theme that he was going to reduce taxes for 95% of working Americans. Why would such a campaign promise be difficult to put into practice?
Assume that the government imposes a lump-sum tax on a monopoly, what will happen to the output and market price?
If an effort to “maintain national security” government demands the wheat growers in America to produce Qs=16million pounds per year. The market can be expressed as P=120-3Qd and P=5Qs. What is the result of the government’s actions
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