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Consider a hypothetical market for bottled water where the market demand and market supply equations are:
QD = -50 P + 1540 and QS = 100 P + 200,
Now, suppose the change in standards results in a new market supply of QS' = 400 P - 350, with no change in market demand.
a. Determine the new PE' and QE' for bottled water. Does your results agree with your intuitive answer to Question 2?
b. Graphically illustrate the market for bottled water before and after the change in labeling standards. Be sure to label all relevant points.
c. Compare the values of consumer surplus and producer surplus before and after the change in labeling standards. Is this result expected? Why or why not?
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Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
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Only when a fair red dice is rolled more than 4 then a coin is flipped, if the coin flips a head, then a fair blue dice is rolled.
Monetary expansion causes the current account balance to increase in the short run. Discuss this statement. Is the same true for fiscal expansion?
Identify opportunity cost of increase divestment. What will happen to future production possibilities if investment increases.
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