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Who sets the prices in the market and what is the nature of competition? Is it buyer versus sellers or buyer versus buyers? What happens if the price is too high or too low? Is the right price also the "fair" price? What is fair?
Macroeconomics, Economics
Question: Consider the maximum entropy ensemble for the Erd ?os-R ´enyi random graph model P(G; ß), as discussed in class. Compute the Shannon entropy S[P] = S(ß) of this ensemble as a function of ß and N. As a function ...
Question: You will submit your answers in a Blackboard assessment filling out charts and answering the essays/short answer questions. Note: There is not an option to upload your assignment, you must use the Blackboard as ...
Question: Consider the following utility function and corresponding marginal rate of substitution for consumption, C and leisure, and L: U = and MRS = The consumer's income is $100, PL = 16.67, and PC = 10. Utility funct ...
Question - Suppose an economy is described by the following aggregate demand and short-run aggregate supply curves. The potential level of output is $10 trillion. Aggregate Quantity of Goods and Services Price Level Dema ...
Question: Tara is considering leaving her current job, which pays $56,000 per year, to start a new company that manufactures a line of special pens for personal digital assistants. Based on market research, she can sell ...
Question: Firms producing different products have (some) ability to set prices for their products. What are some factors which allow firms to attain these monopoly profits (sometimes called monopoly power or monopoly ren ...
Discussion Questions Question 1: What are the main reasons why Nigerians living in extreme poverty? Justify. ( 7) Question 2: Why GDP per capita wouldn't be an accurate measure of the welfare of the average Nigerian? Exp ...
Question: Consider an online game that is popular in China. Besides having good skills, players performance also depends on the value of the virtual weapons they have in the game. There are two ways to obtain the virtual ...
Please Answer The Following Four Discussion Questions 1. Explain four types of unemployment 2. Explain the advantages and disadvantages of: (a) A flexible exchange rate regime (b) A fixed exchange rate regime 3. Suppose ...
Question: Again, demand is QD = 32 - 1.5P and supply is QS = -20 + 2.5P. Now, however, buyers and sellers have transaction costs of $2 and $3 per unit, respectively. Compare the equilibrium values with those you calculat ...
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