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In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
a. The demand curve would shift leftward.
b. The demand curve would not shift but the price of dining out would rise.
c. The demand curve would shift rightward.
d. The demand curve would not shift but the price of dining out would fall.
q.assume the following data describe the gasoline marketprice per gallon 2.00 2.25 2.50 2.75 3.00 3.25 3.50quantity
Conclude a price range where there might be a mutually beneficial insurance contract.
In the short-run, a firm can experience increasing, decreasing, or constant returns to scale. Decreasing returns to scale are often due to coordination and communication problems that create operating inefficiencies.
Suppose we have the following information about the productivity of two industries in USA and Mexico. The unit labor requirements are given in the following table. Plot production possibilities frontier (PPF) for each country assuming that each count..
In addition categorize the level of elasticity of a product or service of your choice from real life depends on what you know happens to the percentage change in quantity demand when the price changes.
Why does the concept of money neutrality imply that monetary policy to stimulate investment will be ineffective in the long run?
Which of the following methods of stimulating the economy provides the federal government with the greatest control over how the stimulation takes place?
Explain why the firm will or will not experience diminishing marginal returns to labor in the short run if its production function is.
When an automaker begins offering low cost financing or rebates, others tend to do the same. What two oligopoly models might offer an explanation of this behavior? Fast-food restaurants tend to cluster together. That is, on one corner, there might be..
q.part 1in 2011 company xyz had sales of 345620million net working profit subsequent to taxes of 10250 million and
Chris consumes only 2 goods, Suppose his utility function is U(X1,X2)=X1 1/3,X2 2/3, Suppose P1 =$2,P2= $8 and income(I)=$600 I want to know how to do the problem, so I need to see all the steps it takes to arrive at the correct answers for a,b and c..
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline to increase even ..
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