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Suppose the market for fish (a normal good) in the U.S. is in equilibrium. Then suppose that the workers in the fishing industry successfully negotiate for a higher wage, while at the same time average household incomes in the U.S. increase dramatically. What will happen to the equilibrium price and quantity in the market for fish?
a. Price will increase, quantity could increase or decrease
b. Price will decrease, quantity could increase or decrease
c. Price and quantity both increase
d. Price and quantity both decrease
Suppose that the GDP of California increases by 14% each year. How long will it take for the GDP of California to double? Suppose that the GDP of Oregon today is exactly twice what it was 37 years ago. What was the average annual growth for Oregon ov..
Elucidate why a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
Using graphs, show how you would establish the following proposition: " In a small open economy operating a fixed exchange rate, in which domestic and foreign bonds are imperfect substitutes, in the absence of sterilization the effect/ of an increase..
What are the annual accounting costs for the firm described above? What are the annual explicit costs for the firm described above?
The inverse demand in a Cournot dupoly is P=a-b(Q1+Q2) and costs are c1(Q1)=c1Q1,and C2(Q2)=c2Q2. The government has imposed a per unit tax of $t on each unit sold by each firm. The tax revue is ?
If the fluctuations in the economy's real growth rate from year to year are caused primarily by variations in the rate at which aggregate delivery increases
Nicole is applying for a health insurance policy. She has liver disease and other health problems. She honestly disclosed the true facts to the insurance agent. However, the agent did not include all the facts in the application. The contract was iss..
Please plot the following aggregate demand curves from the following equations: Please plot both curves to scale.
1 what is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending
In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)? Prospective customers must be categorized according to willingness-to-pay.
A perfectly competitive firms average fixed cost function is AFC = 30/Q, its average variable cost function is AVC = 6 + 0.1Q, and it marginal cost function is MC = 6 + 0.2Q. The firm optimizes by producing the level of output that maximizes profit o..
q. the article states growth in the export sector has been one factor contributing to overall growth. how would we
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