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Sort the following scenarios according to whether they would cause a shift in the demand curve or movement along a demand curve.
1. Netter raises the price for its laundry detergent, which results in Less sales and strange scents around college.
2. Le Chaise offers a one weekend clearance sale on its old model of desks, which causes students to rush to upgrade their dorm furniture.
3. a burger joint with an absurb national following in the US sells more burgers as the price of chicken increases.
4. After it earns 1st prize in the spicy la category college students b u y more lamian brand noodles.
Suppose the a business buy a total 110 billion of the four resources (land, capital, labor and entrepreneurial ability) from households. If households receive $64 billion in wages, $12 billion in rent, and $22 billion in interest, how much are househ..
You are trying to determine how much your family needs to set aside for the four years you plan to attend college for your tuition. You expect your tuition to increase your sophomore year by 11%, 12% your junior year, and 9% your senior year. How muc..
Whose interests should be the paramount concern of government trade policy - the interests of producers (businesses and their employees) or those of consumers? Given the arguments relating to the new trade theory and strategic trade policy, what kind..
Define and explain what the production on function and the marginal output curve are. Graph the production function and the marginal output curve. How are the two related? Indicate where the ranges of
Suppose we now care about the long run decisions of a firm that has a production function of the form q = 4L^1/2 + K. Assume that, at the beginning when w0 = 1 and r = 0.5, the firm chose to produce q0 = 20 units of output. Then, the wage increased t..
According to Haskel and Sadun(2009), the United Kingdom started regulating the size of grocery stores in the early 1990s, and today the average size of a typical U.K. grocery store is roughly half the size of a typical U.S. store and two-thirds the s..
An outcome that can result from either a price ceiling or a price floor is:
Walmart has had many problem with it's work force over health insurance, forming a union etc. Would you consider walmark to me a monophony? Explain why and why not. What impact will having a union have on the workers and on Walmart.
Many people look back at their years at college and think one of two things; either they relish the fact that they were able to learn and grow from their experience and gain perspective on their future career, or they regret not allowing themselves t..
Assignment on The Net Exports Effect
Why does a union electrician earn less than a non-union electrician? Why does a white male earn more than a white female with the same level of education? Why does a movie actress like Angelina Jolie earn more than a movie actress from the 1940s?
A monopoly produces widgets at a marginal cost of $10 per unit and zero fixed costs. It faces an inverse demand function given by P=50 - Q. Suppose fixed costs rise to $400. What happens in the market?
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