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Assignment:
Find an article in a recent newspaper or magazine illustrating a change in price or quantity in some market. Analyze the situation using economic reasoning to answer the following questions:
. Has there been an increase or decrease in demand? Factors that could shift the demand curve include changes in preferences, changes in income, changes in the price of substitutes or complements, or changes in the number of consumers in the market!
. Has there been an increase or decrease in supply? Factors that could shift the supply curve include changes in costs of materials, wages, or other inputs; changes in technology; or changes in the number of firms in the market.
For the final project, you should have compiled data on US GDP for the year 2017. Using this data you were to create a circular flow map of the US.
Suppose you are a discus hurler and your goal is to maximize the distance you achieve. You "produce" discus hurls by practicing. The total benefit of practice is distance achieved, and the input that achieves this distance is hours of practice. D..
Explain the connections that exist between female labor force participation and divorce. Use your analysis to predict the patterns of divorce and female labor force participation over the next decade.
Christine and Paul are deciding how to split their time between writing music and lyrics for their new album. Their PPFs for 72 h of work are shown.
A demand function is given by the equation Q = 107 - 3P. Suppose the price is P = 14. At this price, find the price elasticity of demand
The Wall Street Journal discusses a trend among some large US Corporation to base the compensation of outside members of their boards of directors partly on the performance of the corporation.
Suppose the long-run total cost function for any firm in an industry is given by the cubic equation. TC=a+bq+cq^2+dq^3. Show (using calculus) that this total cost function is consistent with a U-shaped average cost curve for at least some values of a..
Discuss briefly how each of the following changes would affect the natural rate of unemployment.
An asset is to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = l0, 000 and S=3,000 at the end of year 5, determine the depreciation schedule.
What is the new quantity of private investment and the new equilibrium interest rate in this market? Draw a graph of the loanable funds market illustrating both the initial situation and the effect of the government deficit described in part (d) of..
exchange economy 1. suppose that in a simple two-good exchange economy the two individuals a and b have the following
Discuss the reason for the differences in the measured betas for Sophie Fashion
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