Does Citizens have a dominant strategy? What is the equilibrium wage? I need help with the answers to Problem Set 3 in Economics Borrowing of funds from other countries might solve the problem of the economy in the short run but, in the long run, the fiscal deficit for the country will increase.
What problems might exist in determining this new, externality-based price? Are changes in discretionary and fiscal policy likely to be instituted in a manner that will reduce the ups and downs of the business cycle? How rapidly has GDP grown during the past 3 years? A local hardware store is trying to decide whether to stay open.
Some economists would like to see the costs of these burdens incorporated into the price of goods that we buy. Why does marginal product become negative? This will again put the economic condition of the country at stake. Page 3 of 3 Read more Answer.
Assume you are a policymaker in Washington, DC. Did the shift of the federal budget from deficit to surplus during the s weaken aggregate demand? Why or why not? Why or why not? Lobbyists for the Preschoolers of America have put pressure on their representatives to cap prices on graham crackers.
You do not need to provide actual numbers; rather, show on the price axis where the price would be before the externality is considered and where the price would be after the externality is considered.
Belowyou will find two scenarios. Please show all work or points will be taken off. Use the production function below to answer the following questions: One graph must be for the market as a whole, and the other must be for this store in particular.
I need explanations also because my final is soon. You have been assigned a position on a new committee to study the impact of a price ceiling on graham crackers. For instance, since coal-fired power plants increase emissions that could potentially lead to climate change, these economists believe that the price we pay for electricity is not high enough.
Clearly label your answers. Explain this in terms of elasticity. Your job is to: Solved July 03, Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when What is the current rate of unemployment?
What price should Stefanie charge to maximize her profits? The people living in the country do not have enough money and government is also not able to provide enough subsidies to them. Does fiscal policy have a strong impact on aggregate demand? Data for the market for graham crackers is shown below.
Your answer should include a written explanation of your graph. Why does this happen? Calculate marginal productivity MP and put this in the table. Introduction to Macroeconomic Theory Solved January 05, In economics, they say a picture is worth a thousand words.
At what level of employment does diminishing marginal productivity begin? Illustrate using a fully labeled supply and demand graph what such an artificial price looks like label all the axes and any lines you put in your graph.
Knowing that you have taken an economics course, the owners have asked for your opinion. Should firms raise or lower their prices if they want to increase revenue? Water is a natural resourcessecretaries is a variable factor and hence labor resources and finallydesks is a capital thatProblem Set 3 is due by p.m.
(ET) on Monday of Module/Week 6. Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices.
ECONOMICS 1A: PROBLEM SET 1 ANSWERS Review of Graphs and Formulas 1. For each of the following equations, graph the line and calculate its slope (for both P and 3.
Graph the following equations (with Q on the X axis) and calculate where the lines intersect. a.
P = 10 - 2Q, P = 4 + Q. Liberty University ECON Problem Set 3 complete solutions correct answers guarantee; Liberty University ECON Problem Set 3 complete solutions correct answers guarantee.
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