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Which of the following would cause the market demand curve for a good to shift?
a. a change in the number of buyers in the market
b. a change in the production process sellers use
c. a change in the price of an input used to make the good
d. the imposition or removal of a price ceiling
Suppose there are two types of customers for a cell phone service: undergraduates (U) and grad Students (G). The aggregate (inverse) demand curve for undergraduates is PU = 100 − 0.25QU and the aggregate (inverse) demand curve for the graduate studen..
Suppose that a tax of $28 is levied on each item sold by a monopolist, and as a result, it decides to raise its price by exactly $28. Why might this decision be against its own best interest?
The graphical relationship between real gross domestic product (GDP) and capital is called the:
Assume that you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6,000 un..
In the short run, a firm's total costs of producing 100 units of output equal $10,000. If it produces one more unit, its total costs will increase to $10,150. Illustrate what is marginal cost of the 101st unit of output.
The table below shows the hypothetical prices and quantities demanded of a software product. Assume that the fixed cost of setting up the production of software is $200 and the marginal cost is $5.
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
Foods Inc (FI) sells 5 million units per year of its only product (SuperFood) through a major retailer. SuperFoods’ retail price is $5 per unit which included a margin to the retailer of 20%. alculate SuperFoods’ per unit variable cost, Calculate Su..
What is the total market demand for polyglue at the price established by Alchem in Part (a). How much of the total demand do the follower firms supply?
What evidence have you discovered that points to the Classical, Keynesian, and Monetarist theories being debated today? What is supply-side economics? Does it oppose the Classical, Keynesian, or Monetarist theory? How does supply-side economics affec..
Find a 95% confidence interval for the true percent of car owners in this city who recieved a speeding ticket this year. Evalute your results to the nearest hundredth of a percent.
Calculate the elasticity for each variable. On this basis, discuss the relative impact that each variable has on the demand. Illustrate what implications do these results have for the firm's marketing and pricing policies.
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