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Two partners own together a small landscaping business in North Carolina, called Summer Lawn Care. They have been specializing in summer grass seeding, installation, and maintenance. Recently, the partners acquired special technology and know-how for winter grass installations and maintenance. They also added a tree cutting service as recent storms in the area had caused demand for this service to soar. One of the partners insists that the name of the business should change to Lawn and Tree Care, so that it better reflects the range of services and, thus, generates more customer interest, and thus contracts. The second partner wants to keep the old name and argues, "We have already paid for business cards, vehicle paint, signage, and ads in Yellow Pages". Evaluate the arguments of the two partners. Explain and illustrate their points by identifying the relevant and irrelevant costs for this decision.
the market for gravel has been estimated to have these supply and demand relationshipssupply p 10 0.01qdemand p
Analyse the impact of an increase in the price of crops and a (proportionately smaller) decrease in the price of fuel on a low income person who spends most of her income on food (derived from crops).
health economists use demand and supply theory to discuss the health insurance exchange created by the affordable care
what is the most common way modern labor unions use to raise wages? this will result in the fewest jobs lost if labor
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a. Given the following chart and information fill in the missing values. Please write on a separate sheet. Note that r = $50 and w = $100. Use a price of $5.50.
economist joseph schumpeter who taught at harvard from 1932 until his death in 1950 popularized the term creative
The budget line gives the combinations of two goods that the consumer can purchase with a given budget. List and briefly describe the two conditions that satisfy utility maximization when selecting a combination of two goods.
1 the demand and supply equations in a market are given as q 30 - 2p and q 10 2p. if the government imposes a tax of
Suppose that the money market is initially in equilibrium for an economy. Describe with the aid of a diagram how market adjusts to an increase in money supply, an increase in real GDP
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