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The war in Iraq comes to an end. Iran and Afghanistan lay pipes to generatemore oil. The United States and Venezuela enter into an era of friendship. Which of the following correctly captures the effect of this change on the market forgasoline?
The municipal swimming pool charges lower entrance fees to local residents than to non-residents. Conclude that non-residents must have for swimming at the pool than residents.
Future costs as well as future payments have present values. For example, some researchers say that global warming could cost $1 trillion per year in 100 years. Using the present value formula and an interest rate r = 5%, one researcher (William Nord..
Consider a competitive industry with many identical firms. The supply curve of an individual firm is given by S1(p) = 2p when p ≥ $2 and S1(p) = 0 when p
Unemployment numbers drop as more jobless Americans Find out positions in local businesses. Which determinant of aggregate demand causes the change.
If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
Illustrate what would have been the welfare implications of a ban on oil imports.
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly.
Kant asserts that human life is best understood as a "war of every man against every other man." This means all people want to have whatever they deem appropriate to a comfortable life for themselves.
Explain two distinct factors through which geography can affect a country's income and prosperity. For both of these factors described in part A, discuss whether you think the effect of these on a country's income is fixed over time or whether the ef..
Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year. Suggest how fiscal and monetary policy can move those numbers to an acceptable le..
Who benefits from inflation? Who is hurt from inflation? What is hyperinflation? How to control inflation? What is GDP pe person? Provide an example of purchasing power parity
Suppose you are the manager of a golf club with monopoly power. a typical consumer's inverse demand function for your firm's product is P=100-20Q, and your cost function is C(Q)=20Q. a. If you apply a two-part pricing strategy, how much would be the ..
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