The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium price at this motel is ________ per room
A) $20
B) $30
C) $40
D) $50
E) $10
D
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State the Coase theorem
What will be an ideal response?
During which of the following periods was growth in GDP per capita the strongest?
A) prior to 500 A.D. B) 500 A.D. to 1800 A.D. C) 1800-1900 A.D. D) 1900-2000 A.D.
If the prices of all goods increase by the same proportion as income, the quantity demanded of good X will
a. decrease. b. increase. c. remain unchanged. d. change in a way that cannot be determined from the information given.
For this question, use the Keynesian IS-LM model with flexible exchange rates.Eastland's main trading partner is Westland. Suppose Westland undertakes an expansionary monetary policy.(a)What is the effect of Westland's expansionary monetary policy on Eastland's real exchange rate in the short run, assuming no change in Eastland's policies?(b)What is the effect of Westland's expansionary monetary policy on Eastland's real exchange rate in the long run, assuming no change in Eastland's policies?(c)What is the effect of Westland's expansionary monetary policy on Eastland's nominal exchange rate in the short run and in the long run?
What will be an ideal response?