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Which of the following is NOT an example of a demand shift?
a. A promotion at works leads to increased spending on vacation travel. b. A shoe store sale leads to higher demand for its shoes. c. A safety recall of the Honda Prius leads to lower demand for the Honda Civic. d. An increase in coffee bean prices leads to a fall in demand for lattes
Two firms, A and B, each with a marginal cost of $50, form an oligopoly whose market demand is P = 650 ? 10Q. If the market is defined by Cournot competition, what quantity will they produce and what price will they charge?
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
Prepare a balance sheet for Mullen's Hardware for December 31 of last year. The company assets are cash $15,000, accounts receivable $21,000, and merchandise inventory $95,000. The liabilities are accounts payable $12,000 and wages payable $17,000. T..
Economic surplus could be increased at a higher price because firms would generate more revenue.
At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated.
Can we say confidently whether good X is a normal good or an inferior good.
Illustrate what percentage of G1 can be mixed with G2 and still satisfy the customers. Elucidate the resulting paint cost per gallon.
In a free market, assuming that the expectations of buyers and sellers are accurate, every transaction should involve... Consumer surplus and producer surplus, Consumer surplus or producer surplus, but not both
Suppose two firms (Firm 1 and Firm 2) are competing against each other in a (duopoly) market. Suppose further that the demand is given by the equation P= 700-30(q1+q2), where P is the price of the good, q1 is the quantity sold by firm 1, and q2 is th..
You have made arrangements to borrow $1,000 now and another $1,000 three years from now (End of Yr 3). The obligation is to be repaid at the end of four years. If the projected interest rates in years one, two, three, and four are 10%, 12%, 12%, and ..
Explain why the development of a strong central national government was so important after the civil war and deemed so necessary for the development of the nation. Cite reasons and results
You are an aide for the Senate Banking Committee Chairman. He comes to you with a bill that proposes setting limits on what ATM owners can charge non account holders, over and above what banks charge their own customers. The Senator asks you to look ..
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