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For each of the situations below use supply elasticity to explain the how the equilibrium price and quantity change. (a) The demand for collectable baseball cards from the 1950s increases. (b) The demand for silver decreases. (c) In the long run, the demand for ice cream increases. (d) In the short run, the demand for gasoline decreases
Currently AIDS is spreading in china and India. Govt. of these nations fail to stop spread of AIDS what are likely consequences for future economic growth in china and India.
If B accepts, the division is implemented. If B rejects, each player obtains their outside option. Assume that if a player is indifferent between a proposed dividsion and his or her outside option, then the player accepts the division.
A perfectly A Perfectly competitive firm has a MPL = 20-L. If P = $5 and w = $10/hr. What is the optimal quantity of labor demanded?
Set up a table or a spreadsheet for XYZ's output (Q) price(P), total revenue (TR), marginal revenue (MR), total cost (MC), average cost (AC) total profit (TP) and Marginal profit (MP). Establish a range for Q from 0 to 1,000 in increments of 100 (i.e..
Europe's had unusually autonomous universities in which scholars could pursue their studies in relative freedom from the dictates of church or state authorities. Western Europe was in a position to draw extensively upon the knowledge of other culture..
Explore one of the sophisticated alternative pricing techniques (i.e. price discrimination, price bundling, etc.) and provide an example of how it is used. What are some constraints that may limit the ability of firms to use these techniques?
suppose the domestic and foreign interest rates are both initially equal to 4%. Now suppose the foreign interest rate rises to 6%. Explain what effect this will have on the exchange rate. Also explain what must occur for the interest parity condition..
The US government has been involved in the Persian Gulf regions, in Iraq and in Afghanistan, in order not to let the terrorist groups take over and control the oil supplies and the shipments of oil to the rest of the world.
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equation..
In the Romer endogenous growth model, what three factors determine an economy’s growth rate? Briefly explain (and ideally show in an impulse-response diagram) how a change in each factor affects growth.
U.S. policy to increase the miles per gallon (mpg) of new cars is to mandate an average mpg for cars sold by U.S. manufacturers. In many countries within the European Union, the policy is to tax gasoline so that the price per gallon at the pump is st..
General Cereals is using a regression model to estimate the demand for Tweetie Sweeties, a whistle-shaped, sugar-coated breakfast cereal for children. The following (multiplicative exponential) demand function is being used: Determine the point price..
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