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Suppose Karen transfers $500 from her saving account to her basic checking account. How will this transaction affect M1 and M2?
In this problem, assume that letter A is equivalent to 0. The subscripts do not affect the value of the keys (which are letters).
Delibeefious, a deli selling only beef, face the following demand function (for beef): Qd = 0.4Y – 0.8Pb + 0.2Pc, where Y is income, Pb is the price of beef ($/Lb) and Pc the price of chicken ($/Lb). Suppose that the price of beef is $10/Lb and Pc eq..
A legal change is proposed to extend patents from 20 years to 23 years. If passed, this will affect future patents as well as patents granted earlier (i.e. it is retroactive). If a company has just patented its invention the day before the legal chan..
What type of externality would your neighbor playing his sterol loudly exemplify? Can the Coase Theorem be used as a resolution for this conflict? Why or why not?
Conclude how the abatement levels should be reallocated across the 2 industries to minimize costs.
Solve for market equilibrium price and quantity. Illustrate your answer with a diagram of market. What are dollar values of consumer and producer surplus.
Compare performance of a single-price monopoly with that of perfect competition. Explain how price discrimination increases profit. Explain why monopoly can sometimes achieve a better allocation of resources than competition can.
If the price in a market happens to be above equilibrium, there will be a ___ in the market, and the price will tend to ____
A) Why has Uber cut prices substantially? ($500) B) What assumptions has Uber made about price elasticity of demand among its customers? ($500) C) If customer demand is price inelastic, will total revenue rise or fall? Explain your answer in 1-2 sent..
what is the consumption function b. what is the equation of the AE curve c. calculate equilibrium expenditure
A car dealership is considering lowering the price of its min vans to promote sales. However, it worries that this will reduce sales of it station wagon autos. It finds the cross product of demand to be 1.5. Are its concerns legitimate? Explain.
Anderson and Kay are two individuals who one day discover a stream that flows wine cooler instead of water. Anderson and Kay decide to bottle the wine cooler and sell it. The marginal cost of bottling wine cooler and the fixed cost to bottle wine coo..
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