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In 1999, India did not have shopping malls. It now has more than 100 malls. Which of the following explains this rapid development? A. Uneducated people in rural areas are demanding malls. B. The middle class is increasing demand for consumer goods. C. The gap between rich and poor is shrinking.
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
What are some explanations for the coordination failures that prevent workers and employers from reaching agreements?
President North West is spending billions of dollars on military equipment in the U.S. He is also attempting to carry out his promise to put a man on Mars by the end of the decade.
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
1) Whether an asset is "liquid" often depends on what situation you are in. For each of the pairs of assets below, which is more liquid in the particular setting? You want to buy a sofa: A savings account or currency You want to trade for a bolo..
When te price of milk increases from $2.35 to $2.50 per gallon, the quanitity demanded falls from 100 gallons to 90 gallons. When the price of paperback books fall from $7.00 to $6.50, the quantity demanded rises from 100 to 150.When the rent on apar..
Explain the difference between a monopoly and an oligopoly, and a cartel and provide an example of a monopoly, an oligopoly, and a cartel.
Explain and illustrate what is expected to happen to an economy in "absolute macroeconomic equilibrium when, ceteris paribus, there is an established concerted policy to bring down loanable interests rates. Use both, the Aggregate Expenditure grap..
In the economic theory of the company, we generally discuss only 2-factors, labor and capital, and in short run labor is variable factor and capital is the fixed factor of production.
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
Someone claims that the "bargaining" hypothesis appeared in the literature because of a significant flaw in the "comparative advantage" hypothesis. After you briefly explain what these two hypotheses stand for, identify what..
Is the firm minimizing costs? If not, what steps should it take to lower costs and still produce the same level of output?Is the firm minimizing costs? If not, what steps should it take to lower costs and still produce the same level of out..
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