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Which sentence best tells the effect of scarcity on economics? A. Scarcity shapes decisions about how to distribute goods. B. Because resources are scarce consumers buy fewer goods. C. Scarcity makes people work harder to make more money. D. The existence of scarce resources forces people to make choices.
Jason has been making equal annual payments of $7,500 to repay a college loan. He has just made an annual payment and now wants to pay off the rest of the loan immediately.
During that summer, he charged $1.69 each gallon for unleaded gas during daytime & $2.59 each gallon at night,
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
Honda uses flexible plans in the manufacturing of its cars. Discuss whether this method of production results in optimum output.
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500.
Describe the market equilibrating process and compare the demand for food with demand for Starbuck's coffee. Include academic research to support your ideas.
Briefly explain the meaning of MRTS for this production function and what is elasticity of substitution when the capital-labour ratio changes from 1/10 to 1/30?
How does industry-level price elasticity of demand shape the opportunities for making profit in an industry? How does the firm-level price elasticity of demand shape the opportunities for making profit in an industry?
Think that the following entry game. Here, company B is an existing company in the market, and company A is a potential entrant. Company A must decide whether to enter the market or stay out of the market.
If market price is $60, how many units of output will the firm produce? Zero units of output because the firm shuts down. 1 unit of output. 2 units of output. 3 units of output.
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