Top new questions this week:
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I’m taking an intermediate microeconomics course in college and just got to the topic of monopolies. I know the concept of a Giffen good. As always, Revenue = Pq Since the monopoly has market power, P …
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So according to perfect competition, a single firm is a price taker, having to sell at the equilibrium price as determined by supply and demand. As you can see from the single firm graph, demand is …
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I am trying to wrap my head around the idea of risk dominance but I am not confident whether or not what I am thinking is correct. A B A 80, 80 80, 0 B 0, 80 100, 00 The solution says that the …
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Could someone help me to solve the following differential equation: $\dot L(t) = nL(t) + b$ with $n>0$, $b>0$, $L(O)∈R$ $\dot L(t)=$ the time derivative of $L(t)$
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We have this accounting identity: national income = national product This make sense to me: CorpA pays \$80 of wages to make a good that sells for \$100 (and is …
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Let’s say we have a model like: $$log(y) = \beta_{1} + \beta_{2} \cdot log(X_{2})+\beta_{3} \cdot X_{3} + u$$ After carrying an OLS, we are asked which independent variable has a higher impact on the …
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I am looking for illustrative “soft” articles on the definition of causality of Economics. Something to assign as a reading in a causal inference course. Any ideas?
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Greatest hits from previous weeks:
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From Prof. Stiglitz’ Vanity Fair article: How, one might ask, is this possible, given Trump’s rhetoric, his determination to move against China with a 45 percent tariff? There’s a global …
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If a country prints money and distributes it between the people, it causes inflation. But what if a country prints its own money to spend ONLY abroad, which would allow a country to buy whatever it …
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Sorry this might be borderline off-topic (and I am an economics layman at best), but I found this rather puzzling and would like to know why this is happening. I just came across an article which …
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In my economics textbook, it states that when calculating GDP using the income approach, depreciation should be added. Specifically, GDP = Employee Compensation + Taxes less subsidies on businesses + …
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I have to prove that the sample variance is an unbiased estimator. What is is asked exactly is to show that following estimator of the sample variance is unbiased: $s^2=\frac{1}{n-1}\sum\limits_{i=1}^…
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I don’t understand why the price of oil futures went negative today. News say it is because sellers cannot sell it. But, why don’t they just hoard it until the coronavirus crisis is off? Why don’t …
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I’ve seen many professors say that Godel’s incompleteness theorems don’t apply to economics. Of course I’ve seen others like Yanis Varoufakis who has on record said that many economics papers defy the …
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Can you answer these questions?
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I am having problems getting my head around this. Some sources say there is a difference between GNI and GNP others just say they are synonyms. Could someone clear this up definitively for me: …
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Are all instances of legal, ex nihilo, quantitative easing (QE) within Europe, clearly documented for the past 50 years, or is that process/data obfuscated? If yes, is there a …
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If it suddenly becomes much easier to produce, and marginal cost decreases (supply shifts out), then to continue producing at the optimal quantity, firms will produce less–but at the same price, …
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