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1) Suppose Katie, Mark, and Bobby are the only consumers in the market for ice cream. Using the demand schedules in the table below, draw the market demand curve for ice cream.
2) Soft drinks and milk are substitutes for consumers. Draw a graph showing the effect of a decrease in the price of milk on the demand for soft drinks.
3) The table below shows supply schedules for the two nail salons in town, Nancy's Nails and Fancy Nails. Draw the market supply of manicures?
4) Last year a very severe ice storm hit the north counties of New York state, and the states of Vermont and Maine. Electric poles were down and no one had power for days. It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time. Using a supply and demand diagram, show the impact of the ice storm on the market for kerosene heaters.
5) Consumers can use either natural gas or heating oil to warm their houses. Suppose the price of natural gas increases. Use a demand and supply diagram to show the impact of the higher price of natural gas on the market for home heating oil.
Research this issue and write a brief memorandum
Go to the internet auction site eBay at www.ebay.com and pick the category Jewelry and Watches, followed by Loose Diamonds and Gemstones, and then Diamonds, Natural.
Why does increasing productivity index effect the total product and marginal cost When the productivity index is moved from 0% to 25% Total product increases and the marginal cost decreases.
How does this compare with your answer in part and explain why firms find it profitable to change their quantities in this way.
Why would "cap-and-trade" be more aligned with those who wish to use private market innovations to solve environmental problems than a regulatory based environmental system like taxing or production limits?
Why is the demand for water price-inelastic and in those regions where outdoor use of water makes up relatively large portion of total use, the price elasticity is high. Why?
The demands of distribution centers d and e are 2,300 and 1,400 items, respectively. The transportation is conducted by truck at the cost of 8 cents per item per kilometer. Design a transportation problem to minimize transporta- tion costs
A production function establishes the relationship between: Which of the following statements is true of the short run? Which of the following inputs can be changed in the short run?
What is the opportunity cost of working at the internship and it is unreasonable that companies must pay an average of $15,000 per year to provide health insurance for an employee and their family.
many americans feel that their jobs at home should be protected and that free trade should be limited. however global
Normal 0 false false false EN-US X-NONE X-NONE Distinguish between total and..
Suppose the saving rate is initially less than the golden rule saving rate. We know with certainty that a decrease in the saving rate will cause:
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