A bakery would be willing to supply 500 donuts per day at a price of $0.50 each. At a price of $0.80, the bakery would be willing to supply 1,100 donuts. Using the midpoint method, the price elasticity of supply for donuts is about
(g) (2 points) Would the firm ever be willing to switch from using h(K, L) to usingf(K, L) with capital at 128 machines? Explain.- Continuing to use the three production functions: q = h(K, L) = K(1/3) L(1/3),q =g(K, L) = min{}K, {L}, and q = f(K, L) = K(1/4) [(3/4).(h) (6 points) What is the Long Run Cost curve for each of these when […]
List five variables (and the direction of their change) that would shift the saving curve to the left. List three variables (and the direction of their change) that would shift the investment curve to the left.
A monopolist produces a single good from the utilization of two plants, plant 1 and plant2. It faces an inverse demand curve of: P = 1100 -2Q, where Q is total quantityproduced, thus Q = q1+ q2. q1= quantity produced in plant 1 and q2= quantity producedin plant two. Plant 1 is an older plant and has a marginal cost of production equal to10q1. Plant […]
Discussion questions are below. 150 words minimum with references. There are pros and cons of using monetary and fiscal policy tools to stabilize the economy. Explain the main arguments in favor of economic stabilization during recessions. Explain why policy lags could make stabilization policies counterproductive. What are the justifications given in favor of more government involvement in the market economy? What are the reasons given […]
“Given the demand and supply function as 20 = Qd 3p/2 and 10 = Qs – P/2, find (1) Equilibrium price and quantity (2) show the picture of your answer above (3) if government impose Tax of N2, what is the new equilibrium price and quantity (4) what is the burden share? “
A Keynesian economy is described by the following equations.Cd= 250 + 0.5(Y – T) – 250rId= 250 – 250rG = 300T = 300L = 0.5Y – 500r + ÀeM = 3000Y = 1250Àe= 0(a) Calculate the values of the real interest rate, the price level, consumption, and investment for theeconomy in general equilibrium
Charline must decide whether to open a business or work as an economics tutor. The business she is considering is open a store called “Charline Sells Seashells by the Seashore”. This business is risky because 60% of the time Charline would have a GOOD seashell harvest and earn an income of $300. But 40% of the time Charline would have a BAD seashell harvest and […]
Due Date: Lock Date: Status: Weight: 1. In the aggregate demand-aggregate supply model, economic growth can be illustrated by ana) inward shift of the aggregate supply curveb) inward shift of the aggregate demand curvec) outward shift of the aggregate supply curve2. According to the text, the government can use aggregate demand management policies to reduce unemployment rates. A byproduct of this policy will bea) an […]
2. Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact–be specific, e.g., 9/11 attack, natural disaster, rise or fall in oil prices due to OPEC policies, consumer optimism or pessimism about an expected economic expansion or downturn, increase in government spending on healthcare, tightening of the legal and institutional environment, and so […]
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