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Many nutritionist regard tofu as virtually a wonder food. Imagine now that yet another benefit of tofu is discovered. Mixed with a few cheap ingredients it greatly increase gasoline mileage just as it enhances performance in humans. Evaluate the impact of this starting discovery in terms of the supply and demand for tofu, the price of gasoline and substitute for tofu as a food, fish being an example. For this problem yo can assume that tofu production is perfectly competitive. In this example, describe-do not-draw-supply and demand curves.
Compute the physical units of production. Compute equivalent units of production for materials and for conversion costs. Determine the unit costs of production.
The difference between the average earnings of eye surgeons and those of janitors is an example of
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year. each successive year yields a return that is $3,000 less than the previous year's return.
Which of the following statements best describes the retail market for electricity - Estimate the (own) price elasticity (of demand).
1. Why is there such a difference in Asia's share of global real GDP, depending on whether the computation uses purchasing power parties or exchange rates 2. Why is Asia's "economic size" so much smaller on a per capita basis than on an absolute ba..
How might prohibitions on advertising affect the cigarette industry in the short run, and in the long run using a Prisoner's Dilemma sort of argument.
Suppose A and B choose the amount they spend on the school independently. What is the Nash equilibrium level of the school's quality in Little Society?
A company obtained $500000 for a necessary technology from a venture capitalist who charges them 24% compounded monthly. the agreement calls for no payment until the end of the first month of the fourth year, with equal monthly payments thereafter..
Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..
an upward shift of the depreciation line, an upward shift of the investment function, an upward shift of the per-worker production function.
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that
Suppose there is a permanent fall in private aggregate demand for a country's output (a downward shift of the entire aggregate demand schedule). What is the effect on output? What government policy response would you recommend?
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