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Q1. If American cheese also cheddar cheese are substitute afterward which of the following would increase the demand for cheddar cheese?
Q2. If the price of a Sharpie marker goes from $1 to $3 also the producer changes the supply from 1000 markers to 5000 Illustrate what type of elasticity is this?
Q3. A rancher raises sheep. Once a year he shears them also sells the raw wool to a processor who cleans it also spins it into yarn. The yarn is then sold to a knitting mill, which produces also sells sweaters. In calculating GDP we would count.
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
What are the advantages and disadvantages of each method. What do you suppose led each company to make their choices.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
If it had doubled its land as well as labor, production would have been 325000 bushels. Does it have increasing, decreasing or constant returns to scale.
Illustrate what are some examples of goods which the U.S. has comparative advantage in producing.
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Using a wholesale cost of $4 per case in each state, calculate the breakeven output quantities for each alternative.
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
What is the confidence interval for the proportion of households represented at a town meeting. Survey of households in a small town showed that in 850 of 1,200 sampled households.
when markets for goods as well as services gain access to the Internet, more consumers and more businesses participate in the market.
Two dry cleaners are located on a street of length. The firms do not make the same profit, verbally describe why this is the case.
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