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Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food? Don't do any research to determine what someone else thinks about this question. Just apply the principles of supply and demand you learned this week. Explain your answers graphically. Just get a pencil and paper and draw a market for portable generators in equilibrium and then show the changes you want to make. Do the same for food. Explain to your group members what you have concluded and why. Explain how you drew your graph too. How did you label the axes? How did you find equilibrium? What curve(s) shifted, if any, which direction did they shift and why? If it's easy to attach a copy of your graph for your group members to see, feel free to do so. This is not a requirement, though. You must be able to verbally explain how you drew your graphs.
Illustrate what are the no-trade monopoly equilibrium price and quantity of apples produced at home now.
Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted..
Assume that a industry produces 200000 units a year and sells m all for $10 each. Furthermore, assume that marginal external damage of this product is $6 per unit. How many more units of this product will free market produce than is socially.
q.consider two goods that are perfect complements. for instance car frames and tires. an individual likes owning cars
The algebraic expression of this demand equation is Q = 36 - 2P and the inverse demand equation is P = 18 - 0.5Q. how the algebraic expressions were found.
Draw the isoquants for coffee production. Write down a mathematical expression for the production function for coffee.
Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I changes to 10? What does this outcome reveal about the size of the multiplier?
q. you sell a commodity in a market that resembles perfect competition and your cost function is cq 2q 3q2.
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
The political business cycle refers to the fact that about every four years some politician advocates greater government control of the Fed.
The firm's vice president for manufacturing hires you to out illustrate what combination of inputs the plant should use to produce 20 units of output per period. What advice would you give.
Manufacturers begin building a new plant in Arizona. Which determinant of cumulative demand causes the change.
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