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a. Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price-consumption curve (for a variable price of orange juice) and income-consumption curve.
b. Left shoes and right shoes are perfect complements. Draw the appropriate price-consumption and income-consumption curves.
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit's city council is considering passing a statute that would give investment tax credits to auto manufacturers. Effecively, this wou..
Why would change leaders need to align the organization's people with the change strategy Would it be easier to just tell workers of the change and demand compliance? Or, would integrating workers' ideas and capacities before a change.
Long-run supply curve in a constant-cost industry is linear and shut down because it will no longer be earning a normal pro?t.
Suppose the market shares of the six largest firms in the industry are 12 percent each. Compute the six-firm concentration ratio and Herfindahl-Hirschman index for this industry.
What is a government budget deficit How does a federal budget deficit affect the economy Howdoes it affect the level of investment and interest rates How doesit affect the individual consumer
Provide some example of a goods that you purchase or market at your workplace to demonstrate why demand curve slopes downwards and why supply curve slopes upwards?
Graph the demand curve for QY. You may use prices for Y of 2, 4, 5, and 10 as a guide. (You can use these four points as a guide to get a reasonable approximation for the rest of the demand curve.)
Suppose the price of housing stays at 2 and the price of food stays at 10. What will happen to her budget constraint if her income increase to 100? What happens to her budget constraint when her income decreases to $20.
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
Differentiate the way Keynes and Friedman approach the economy. Determine the key differences and similarities?
Libertyville has two optometrists, Dr. Jones (J) and Dr. Smith (S). Each optometrist can choose to advertise his service or not. The net revenue to each optometrist, in thousands of dollars, is listed on the payoff matrix below
Assume that the market demand for broccoli is given through Q=1000-5P and the market supply of broccoli is given through Q=4P-80 where Q is quantity per year measured in hundreds of bushels
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