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Consider the market for chocolate. Say that bad weather has hurt cocoa bean crops. At the same time, people are wanted to eat more chocolate. Which event affects demand, and which affects supply? What would be the effect on equilibrium price and quantity in the market for chocolate? Is the effect on either price or quantity indeterminate? Sketch a graph and explain.
q1. in our study of the problem of measurement error in the dependent variable we learn that one solution is to use
Bigco’s balance sheet one year ago indicated retained earnings of $448.7million. This year, Bigco’s net income was $36 million. It paid its preferred shareholders a dividend of $5.4 million and its common shareholders a regular dividend of $5.7 milli..
Suppose an economy consists of 300,000 individuals 16 years and older, 160,000 are employed, and 18,000 are unemployed but actively seeking work. In this example the labor force is:
Assuming 20 people sign up for the cruise, determine how many passengers will result in the max revenue. What is the max revenue? What is the fare per passenger?
You borrow $1,000 for one year at 5% interest to buy a couch. Although you did not anticipate any inflation, there is unexpected inflation of 5% over the life of the loan. What was the real interest rate on your loan? Explain how you gained from the ..
Each of the estimated coefficients statistically significant at the 95 per cent confidence interval. What is the optimal output level.
ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P = 90 - 2Qd and Supply is represented by the equation P = -5 + 3Qs where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.
If elasticities for a bottle of water are -0.8 and -1.2 in two different locations and marginal cost is the same, which location is likely to charge higher price for the bottle of water?
Who benefits from rent ceilings? Who suffers? What are the long-term effects of rent ceilings? How can landlords and tenants cheat on rent ceilings? Do you think the rent ceilings might lead to more discrimination against certain groups?
The Taxpayer Assistance Center (TAC) provides taxpayer assistance to help in the preparation of individual tax returns. The amount of assistance (A) that can be provided is a function of the number of professional accountants (P) and trained tax prep..
q.you are given the market data that says when the price of cake is rs. 60 the quantity demanded of cake is 80 slices
BMW of Colorado advertises on the radio that it has been owned and operated by the same family and in the same location for over 30 years. It then makes two claims: first, that is has lower overhead than other nearby auto dealers because it has owned..
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