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Economics Questions and Answers

Economics of Enterprise692587

2 856Questions:

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Answering economics questions may become a significant problem for many students at a certain point in their education process. You may have a short economics question that seems not so hard and time-consuming, but when you finally get to do it, you realize that it is more complicated than it looks, and Google search is not helping at all. There are a few websites that offer economics questions and answers for free, but they do not always provide solutions to the particular problems you have. If you need assistance with your economics homework problems or need answers to economics worksheet, test or quiz questions, be it multiple choice or free answer questions, Assignment Expert will be glad to provide it. We offer professional help with questions in a variety of economics topics you may find confusing or difficult to comprehend. Ask your economics question here, and our economics experts will answer it for free. If you need a solution to the entire set of questions or assistance with an economics project, order now, and our economics experts will help you for a reasonable price.

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outline the differences in arguments of the monetarist and keynesians in holding money and the effects of money supply growth
Assume that a firm in a perfectly competitive industry has the following total cost schedule:

Output Units Total Cost ($)
10 $110
15 150
20 180
25 225
30 300
35 385
40 480

a. Calculate a marginal cost and an average cost schedule for the firm

b. If the prevailing market price is $17 per unit, how many units will be produced and sold? What are profits per unit? What are total profits?

c. Is the industry in long run equilibrium at this price
Howard Bowen is a large-scale cotton farmer. The land and machinery he owns has a
current market value of $4 million. Bowen owes his local bank $3 million. Last year,
Bowen sold $5 million worth of cotton. His variable operating costs were $4.5 million;
accounting depreciation was $40,000, although the actual decline in value of Bowen’s
machinery was $60,000 last year. Bowen paid himself a salary of $50,000, which is not
considered part of his variable operating costs. Interest on his bank loan was $400,000.
If Bowen worked for another farmer or a local manufacturer, his annual income would be
about $30,000. Bowen can invest any funds that would be derived, if the farm sold, to
earn 10 percent annually. (Ignore taxes.)
a. Compute and interpret Bowen’s accounting profits.
b. Compute and interpret Bowen’s economic profits.
If all the people in a country earned the same money, there would be neither poverty nor scarcity in the country. Please explain in detail why this statement is false.
Explain with the aid of graphs how an increase in the supply of good A will affect the equilibrium price and quantity of good B. If good A and B are substitutes. If good A and B are complements.
The sentence below is an example of a purely positive economic statement.
“During a recession the government must increase its spending to replace reduced private spending and reduce unemployment even if this leads to an increase in the national debt.” Please explain in detail why this statement is true.
Opening an economy to trade makes everyone in the economy better off.Please explain in detail why this statement is true/false.
Television show called ‘Extreme Couponning’ featuring people who go to extreme lengths to collect and use discount coupons. Though the program focuses on extreme cases, couponing is a poplar strategy used by businesses to generate sales. What key economic concepts underlie the use of discount coupons by businesses?

How critical is the underlying market structure in the choice of this strategy for business revene growth?
Suppose the following equations characterize the supply and demand in the labor
market model:
Labor Supply: LS = 2W+30
Labour Demand: LD = 60 - w(1+T)

Suppose T= 0.2, solve for the equilibrium values of wage and labour supply.

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