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According to an article in the Wall Street Journal the price of flat-screen televisions fell between 2001 and 2004 from more than $8,000 to about $3,000. During that period Sharp, Matsushita Electric Industrial, and Samsung all began producing flat-screen televisions. Use a demand and supply analysis to explain what happened to the quantity of flat-screen televisions sold during this period.
A particular good, an 8 percent increase in price causes a 12 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
q. assume a duopoly and let demand be given by pa-bq. in addition let both firms have the same marginal cost c. the
Explain how manager could improve and become more "well rounded". Also include what this manager did well. Include observations about the managerial environment.
Let Y represent income and L represent hours of leisure. Mike's utility for income and leisure is U(Y,L) = Y x L so that marginal utility of leisure = Y and the marginal utility of income = L. Total hours available for leisure and work in any given w..
Student heights are normally distributed. The mean height of students is 68.5 inches and the standard deviation is 2.5. Calculate the probability that a randomly selected student is between 69.15 inches and 74.68 inches tall.
How does the adverse selection problem arise in the credit-card market? How do credit-card companies reduce the adverse selection problem that they face? To what complaint does this give rise?
q.macro-economics is perhaps most divisive area of economics when functionalized to political decision making also
Gas prices fluctuate often and in both directions. How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer. How d..
Republicans running for national office often run on a platform of lowering the income tax rate. They argue an income tax reduction is needed to spur employment and economic growth.
Which of the following is NOT an outcome of a decline in the business cycle?
Burling Water Cooperative currently contracts the removal of small amounts of hydrogen sulfide from its well water using manganese dioxide filtration prior to the addition of chlorine and fluoride. contract renewal for 5 years will cost $75,000 annua..
The economy of the United States is described by the following aggregate production function: Yt = minimum (Kt, Lt). Saving occurs at a constant rate s. Each period, capital depreciates at a constant rate δ. The population is constant. What is the e..
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