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1. Which of the following pairs of goods are likely to be classified as substitutes? Complements? Defend your answer. 1. Peanut butter and jelly 2. Eggs and ham 3. Nike brand and Reebok brand sneakers 4. IBM and Apple Macintosh brand computers 5. Dress shirts and ties 6. Airline tickets and hotels 7. Gasoline and tires 8. Beer and wine 9. Faxes and first-class mail 10. Cereal and milk 11. Cereal and eggs ------ 2. A study found that lower airfares led some people to substitute flying for driving to their vacation destinations. This reduced the demand for car travel and led to reduced traffic fatalities, since air travel is safer per passenger mile than car travel. Using the logic suggested by that study, suggest how each of the following events would affect the number of highway fatalities in any one year. 1. An increase in the price of gasoline 2. A large reduction in rental rates for passenger vans 3. An increase in airfares
part-11. describe the industry and explain the general pattern of change of the particular market model.2. hypothesize
use the following information to calculate accounting profit and economic profit.sales 100employee expenses 40inventory
Research the current demand for a good or service of your choice. Collect information that will affect the demand for the good or service.
Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. Is the deadweight loss for this firm greater than or less than $60?
a study of the effect of college education on job satisfaction was conducted.nbsp a contingency table is presented
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000.To maximize profits in the short-run, the monopolist should do.
The widget industry in Springfield is competitive, with numerous buyers and sellers. Consumers don't differentiate among the various brands of widgets (no product differentiation). The industry demand curve is given by: Qd = 998 - 5Pw + 4 Y - 6Pg
a firm in a purely competitive industry is currently producing 100 units per day at a total cost of 450. if the firm
The range of reserve requirements that the Board of Governors can set for net transaction accounts is a. 3 to 6 percent b. 8 to 14 percent c. 3 to 14 percent d. 0 to 9 percent
gail dribble is analyzing the shares of petscan radiology. petscans stock pays a dividend once each year and it just
Using a prisoner's dilemma game such as the "wedding game." explain how a positional arms race can occur. In your answer be sure to explain positional arms races, the nature of the wedding game, etc.
what closing time should citywide spirits shoppe choose to maximize profits? calculate the increase in profits
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