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Q. Numerous "hookah bars" at which patrons can pay to utilize water pipes to smoke regular also flavored tobaccos have popped-up around the country. Hookah bars are particularly popular with college student's
a. Assume which the market for the service of hookah bars is in long-run equilibrium. Then two events occur: (1) more cities end regulation which had generated fixed cost for hookah bars also (2) many nonstudent adults discover previous unknown preferences for the services of hookah bars. Utilize diagrams to trace through the short-run effects on the market price of hookah bars services, the marginal revenue also marginal cost of these services at a typical hookah bar also the equilibrium quantity of services provided both by a typical hookah bar also by the hookah bar industry.
b. Redraw your diagrams Elucidate how the situation at conclusion of your answer to part (a). Utilize these new diagrams to Elucidate the long-run which will take place in this industry.
Identify also converse at least two arguments which support trade restrictions also two Once modest trade restrictions.
Excise tax is levied on the buyers of a good, then after the tax buyers will pay for each unit of the good.
If a random sample of 400 clients is elected, what is the probability of Type I error using this decision rule.
Profits associated with polluting for Friedman Inc. are π = 40Q - 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars.
Brenda Johnson has used a preprinted form that she got from the internet to create her will.
Using short-run cost theory, explain the impact of this additional patient on the SAVC and SATC. Do they increase or decrease.
If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money.
For a typical firm producing 100 units of output, short-run marginal cost is constant at $65, average total cost is $95, and average fixed cost is $30.
Two consumers Jorge and Admen, together own 1,000 baseball cards and 5,000 Pokémon cards.
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
Compute the percentage change in nominal GDP, real GDP also the GDP deflator.
Assume that during the last month of the tenth year of ownership, the property in Problem 2 is sold for 1,500,000. Assume also that the seller incurs transaction costs equalling 6 % of the sales price.
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