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Some states have had laws restricting the sale of most goods on Sunday. Consumers, by and large, oppose such laws because they find Sunday afternoon a convenient time to shop. Paradoxically, retail trade associations frequently support the laws.
Discuss the reasons for merchants’ supporting these laws.
Say half of the cost of producing wheat is rental cost of land (a fixed cost) and half is cost of labor and machines (a variable cost). If the average total cost of producing wheat is $8 and price of wheat is $6, what would advise the farmer to do..
The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
During the job interview, the Vice President understood that you had received rigorous training in managerial economics, and you were able to choose some appropriate methods to predict the market movement.
In a short run condition in which quantity demanded equals quantity supplied in a competitive industry, with value greater than the average cost of the typical company,
If the dollar appreciated in real terms against the euro by 2 percent in a year, and in same year, inflation rates in the U.S. and the euro zone were 3 percent and 1 percent,
Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand and (2) an increase in supply.
Construct a table showing the marginal cost of production. What is the minimum price necessary for the company to supply ten thousand copies? How many copies would the company supply at industry prices of $5,500 and $7,000 per ten thousand?
Assume that federal health investigators are pursuing a report that one of your manufacturing plants has a higher-than-average incidence of cancer among its employees. The plant happens to keep excellent medical records on all its employees, stret..
The current economic downturn has been called a housing disaster, a financial disaster and a debt crisis, but the simplifying logic of the political season has settled on what is really more a result than a cause.
other things the same, a fall in the economys overall level of prices tends to 1.rise both the quantity demanded and supplied of goods and services 2.rise the quantity demanded of goods and services, but lower the quantity supplied3.lower the quantit..
Governments have sometimes not remembered about elasticity when they formulate tax rule. A few years before the city fathers in Washington DC wanted to raise revenues so they raised gas tax by ten cents a gallon.
In 2007 and 2008 the Federal Reserve Open Market Committee voted to lower interest rates repeatedly. Please explain: a) why the Fed would do this, b) how the Fed would do this,c) Possible consequences on the economy of the Fed's actions.
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