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1. Which of the following would you expect to decrease the demand for tennis racquets? a. A decrease in the price of tennis balls which are complements in consumption of tennis racquetsb. An increase in the supply of tennis racquetsc. An increase in the price of tennis racquetsd. None of the above would decrease the demand for tennis racquets2.Consider the market for pop. Use the demand and supply equations below to answer the following 2 questions. Qd=100-20P Qs=5P(1)If the government imposes a price ceiling of $2 in the market for pop, which of the following will occur?a. There will be a shortage of 50 cans of pop.b. There will be a shortage of 40 cans of pop.c. There will be a surplus of 10 cans of pop.d. There will be neither a surplus nor a shortage because the price ceiling is ineffective.What deadweight loss will result from a price ceiling of $2 in the market for pop? a. $12.50b. $37.50 c. $50.00 d. $45.25
Give an example of scarcity - Summarize an item dealing with economics from the news no longer than one page
write a paper in which you relate the concepts in this weeks readings to a prior real world experience. the experience
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Consider the following graph of a monopolistically competitive firm selling DVDs. A. How many DVDs should be sold to rent per day to maximize profit. B. What is the economic profit for this firm operating where economic profit is maximized.
What new decisions will you make regarding production levels and pricing for your Widget facility - what is that firm's marginal revenue as it increases output from 160 units to 180 units?
Assume that Dr. Slight has $100 to spend on goods X and Y. Each good costs $1. Dr. Slight’s preferences are such that he will exchange one unit of Y for two units of X to maintain his wellbeing, regardless of how much of each he is currently consumin..
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What would be the effect if the rate is lowered to 4%, or raised to 9%? Why would the federal reserve change these rates?
1. Compare and contrast pure competition with monopoly from a pricing perspective. If you were a shipper, which would you prefer? Which would a carrier prefer?
An acceptance will create a contract. At common law, the acceptance had to be identical (mirror image) to the offer. A response that was not identical would amount to a counter-offer and cancel out the offer. Modernly, this is no longer the case. If ..
explain briefly how a change to the following ms md or p ceteris paribus would shift the lm function to the right.
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