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Consider the differences between demand schedule and the demand curve, and how are they related.
Consider the differences between the supply schedule and the supply curve, and how are they related.
Consider how to define the equilibrium of a market. Describe the forces that move a market toward its equilibrium.
A contractor is looking at purchasing a new piece of construction equipment. He can either buy it now or two years from now. The cost is $68,000 if purchased now. If purchased in two years, it will cost $81,000. Assume i = 10%/year and inflation f = ..
Let Y represent income and L represent hours of leisure. Mike's utility for income and leisure is U(Y,L) = Y x L so that marginal utility of leisure = Y and the marginal utility of income = L. Total hours available for leisure and work in any given w..
How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.
Suppose a competitive market consists of identical firms with a constant longrun marginal cost of $10. (There are no fixed costs in the long run.) Suppose the demand curve at any price, P, is given by Q = 1000 ? P.
1. Which is more "cartel-like", the English Premier League or the NCAA? 2. Describe two *economic* concepts addressed in the Moneyball discussion.
In 2014, we predict the demand curve for a product will continue to shift leftward, which will tend to lower price and quantity. However, with a lower price, supply will also decrease, shifting the supply curve to the left. A leftward shift of the su..
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price. Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q...
What is the efficient production for this firm?
A test is conducted in eight cities to see if giving away free transit system maps will increase bus ridership. In a regression analysis, the dependent variable is the increase
A transit line is to be constructed so that people living in a 200-km-long, narrow corridor can be transported to a single employment location at the end of this corridor. The transit vehicles will transport commuters to the employment location at..
q1. suppose that mnl logs harvested the logs in october 2011 and sold them to mnl number in december 2011. mnl number
Explain why a mortgage-backed security becomes riskier when the values of the underlying houses decline. What, as a result, happens to the price of the mortgate-backed security?
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