Brooke Foster Macroeconomics PG 71 & 72: Review question #5 & #8‚ problems #1‚3‚ &7 Review #5. Suppose that in the market for computer memory chips‚ the equilibrium price is $50 per chip. If the current price is $55 per chip‚ then there will be (B.) a surplus of memory chips. Review #8. Suppose that the government establishes a price ceiling of $3.70 for wheat. What might prompt the government to establish this price ceiling? Explain carefully the main effects. Demonstrate answer graphically
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1. Meet the Fiori family and its Fiori Pasta Company. Papa Don is the president‚ son Tony is vice-president of sales‚ and daughter Gina is vice-president of production. Fiori Pasta produces high-quality pasta products. It has estimated its demand curve for its pasta to be P=39.898-0.03757Q‚ This demand function has been given in terms of price. So to find the Total Revenue (TR) you need to multiply the above equation into Q (which is your quantity). TR=39.898Q-0.03757Q2 MR=39.898-0
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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Equilibrium in the goods market occurs where A) aggregate expenditure equals autonomous consumption. B) real GDP equals nominal GDP. C) aggregate expenditure equals real GDP. D) autonomous consumption equals induced consumption. 2) Other things equal‚ if planned investment spending is greater than actual investment spending‚ then aggregate expenditure
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important means for enhancing the lives of the poor and therefore a major tool for economic and social development mostly in rural areas. Lately‚ contrary to this widespread belief‚ critics have raised eyebrows against this growing popularity of microfinance as a major tool for enhancing economic development. Contrary to belief‚ they are of the opinion that microfinance is a ‘make-belief’ that is hindering economic and social development rather than enhancing it. It is to this regard and in light
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1. Consider a personal computer market with two firms‚ X and Y. Suppose that Firm X and Y have the following total cost function: TCX=10QXTCY=10QY . The market is given by P=100-QX-QY. (a) Calculate the Cournot equilibrium outputs of firm X and Y in this market. (b) Calculate their market price in the Cournot equilibrium. (c) Calculate their profits in the Cournot equilibrium. (d) Suppose that firm X is considering implementing a proprietary technology they have developed. The onetime sunk cost
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Kerala’s development experience: a search for a micro response to a macro process abstract The concept of development‚ in the sense of achieving ‘human good’ has always been there since the advent of human society‚ only with varying understanding‚ emphasis‚ and implications. It is seen as a process‚ requiring constant response and continuous solutions and also as a result of human action‚ only through which‚ reorientation of any development process becomes possible (Varma‚ 1989:34). The past
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Ecn 401 (MICRO ECONOMICS). THE NATURE OF ECONOMICS 10/66md016 INTRODUCTION. Economic s is the study of human allocates his limited resources among other alternatives used in other to satisfy his wants or desires. Economics is a social science that studies individual economic behaviour‚economic phenomena as well as how individual agents such as consumer firm and government agencies make trade off choice that allocate limited resources
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Þ Political Aspect: The first factor which shall be kept in mind while studying the macro environment of Starbucks is the political aspect. It has been seen that‚ Starbucks has significant levels of presence in the coffee market. Starbucks consists of various types of products for government offices‚ corporate offices‚ etc. In the year 2011‚ Seattle Coffee has been reported a growth double digit. It shall be taken into consideration that‚ the volume of growth in the overall coffee market has
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Cornell University ILR School DigitalCommons@ILR Articles and Chapters ILR Collection 10-1-2008 Economic Development Strategies and Macro- and Micro-level Human Resource Policies: The Case of India’s “Outsourcing” Industry Sarosh Kuruvilla Cornell University‚ sck4@cornell.edu Aruna Ranganathan Massachusetts Institute of Technology Follow this and additional works at: http://digitalcommons.ilr.cornell.edu/articles Part of the Human Resources Management Commons This Article is brought
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MACRO-ECONOMIC INDICATORS IN THE HEALTHCARE INDUSTRY Due to the fact our industry deals with medical supplies‚ the healthcare sector‚ as a whole‚ tends to be our main focus area. Health care is traditionally funded through contributions paid by individuals as a percentage of their salaried income. There are‚ however‚ some countries that also provide a free public medical service funded by a national budget. Regardless of the coverage it is the quality of the medical supplies and medical personnel
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