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Suppose a new machine is developed that allows restaurants and fast-food outlets to produce french fries at a lower cost. Which panel best describes how this will affect the market for french fries?
Microeconomics, Economics
Question - We know that the AS curve is p = p e + 0.5(Y - Y * ) that is ?(how inflation responds to output gap) = 0.5, (price shock) = 0. Moreover we know: • expected inflation = p e = 4.5 • potential output = Y * = 7 tr ...
Question: If workers contribute to their group's investments and decide on these investments, workers at different stages of their careers may want different types of capital, for example a durable building versus a temp ...
Question: There are a handful of employee-owned firms in the United States. In them, committees of workers make decisions that professional managers would normally make (e.g., which markets to enter, how to price product ...
Question: Despite the existence of research data that might inform policy about development, politicians rarely discuss such data in their speeches. Why do you think that is the case? 140 characters are required to post ...
Question: 1. Why dose Marx begin Capital with commodity? 2. What is abstract labor? Is it a substance?Is it inherent in individual use values? How should we understand abstract labor? 3. What is the distinction Marx make ...
Question: 1. What was the gold standard and why was it a problem in the great depression? 2. What event kick started spending by the US government in 1941? 3. In your own words, write about whether or not you think gover ...
Question: Imagine that there is an adverse supply shock. Draw a graph depicting the adverse supply shock, and explain what it means for an economy (in terms of prices and output). The response must be typed, single space ...
Question: Pricing Strategy & Elasticity (15 points) Best Buy stocks two types of merchandise: a private-label portable DVD player and DVD disks as a complementary good for the DVD player. Originally, Best Buy priced the ...
Question: Jana enjoys traveling with her family. As a result, she has a strong preference for a job that provides a substantial number of paid vacation days. Her current job gives her 15 days of paid vacation and her ann ...
Question: The next time the US economy returns to full employment, what factors will determine how much longer it will take for the next recession to develop? (Note: there is no ‘‘right'' answer to this question; the ide ...
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