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Assuming other things equal, which one of the following changes could cause a leftward shift in the demand curve for good C?
A. an increase in money income if C is a normal good.
B. population growth that causes an expansion in the number of persons consuming C.
C. a decrease in the price of complementary product B.
D. an increase in money income if C is an inferior good.
Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.
If the U.S. interest rate, adjusted for people's expectation of inflation, increases sharply relative to the rest of the world, then
Using a two-dimensional diagram of supply and demand, Illustrate the case of a supply cooperative maximizing net revenue in the short-run. a) What is the optimization criterion for determining the quantity supplied by the cooperative? b) Label the pr..
Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person is growing at 1 percent per year, and Poorland’s is growing at 3 percent per year. Compare real GDP per person in the two..
Daniel, a recent college graduate, is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple, who provide him with food and shelter. After the snowplows have cleared the roads, ..
What are some ways, other than just reducing payroll, that managers can use to cut costs? What do they need to be aware of when trying to determine an approach to staying competitive?
Assume you plan to invest $10,000 at one of the following interest rates. Order the interest rates in declining order of the amount of interest they would provide in one year
You are in a class with one other student. It is the end of the semester and final exams are in one week. Your teacher has said the final exam will be graded so that anyone who scores the class average on the final exam will receive a B in the class.
Should the Fed be more concerned about keeping inflation low or unemployment low? Please justify your answer. Please explain what the Fed's open-market operations are. Has the Fed changed the discount rate lately? If so, has it had an impact on the e..
Compute the CV and EV associated with this price increase. how would you interpret these.
If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium.
Illustrate what did classical economists assume about flexibility of prices, wages and interest rates. Illustrate what did this assumption imply about self-correcting tendencies in an economy in recession. Illustrate what disagreements did Keynes ..
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