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After Iraq invaded Kuwait gasoline prices rose dramatically – up to 50%. These were many effects of the increased price of gasoline.
Explain the following effects in terms of the income effect, or the substitution effect, or both effects. a)People drove less and purchased less gas b)People ate out less often c. People had more tune-ups done on their carsd. Bike sales went up e. The sale of lottery tickets fell. f. People took vacation closer to home
Harriet tubman have felt like a different person after she crossed the border to a free state describe enslaved people were veiwed or treated by southerners and northerners.
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
Discuss how do reducing tax policies on electricity and imported luxury cars in short run affect firm revenue, consumer expenditure and government tax revenue?
Differentiate the way Keynes and Friedman approach the economy. Determine the key differences and similarities?
A purely competitive firm finds that the market price for its product is $25.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $30.00 per unit for all successive units. Does price exceed aver..
Test the null hypotheses that the slope terms are individually insignificant using one-tailed t-tests using a .05 level of significance and evaluate the quality of the model.
Should poorer 1rd World nations refuse "models based on economic laws" of universal validity and there are no universal laws. Describe if you agree.
The question is, there have been two events that have occurred, first there is a significant decrease in the price of personal computers and the second is there has been an increase in the number of firms providing internet access. What will happe..
Select any industry with which you are familiar. Make a graph of this market in equilibrium. Provide 2-examples for industry of conditions which would change supply and two that would change demand.
Calculate what happens to the income of workers and orchard owners if the world price of apples doubles to $4. Ectenia has 200 workers who supply their?
You have been employed to manage a small manufacturing facility which has cost and production data given in the table listed below.
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