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In each of the following scenarios relating to the market for the NBA League Pass (an add-on cost to watch more NBA games than from regular cable TV), illustrate the relevant demand and supply curve analysis, designating the original equilibrium price and quantity, P1 and Q1 and the final position’s equilibrium P2 and Q2. Then state, in a sentence, the results of the analysis
a) With the rise of sites like FanDuel & Draft Kings, the popularity of fantasy basketball significantly increases.
b) The NBA suggests there may be a lockout (and games during the lockout would not be played) in the upcoming season over a labor dispute.
c) Three new TV cable providers make a deal with the NBA in order to be able to include the NBA League Pass into their package options.
An end- of- aisle price promotions changes the price elasticity of a good from - 2 to - 3. If the normal price is $ 10, what should the promotional price be?
A diminishing marginal rate of substitution implies that indifference curves are
Measles has become an epidemic here in Orange County. About 1 in 1000 people will die after contracting the disease. Because this is such a high rate, health officials in Orange County would be well advised to pay for anyone to get a vaccination.
Suppose that the government raises the minimum wage to $10.10. Thinking of the four Marshall's Rules of Derived Demand as they apply to a particular industry, analyze the conditions under which job loss among teenage workers in that industry would be..
Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue f..
Liberals believe that __________ is NOT leading toward a more cooperative future
Suppose good X is a normal good. Then a decrease in income would lead to
A perfectly competitive firm sells 50,000 units of knives at a price of $3. The firm's average cost at 50,000 units is $2.75. Calculate the firm's profit. Please verify answer twice before sending back to me the steps. I want to make sure I have the ..
What are the ways that designers force us to focus on necessary concepts of a play, or how designers force your focus to necessary concepts of the play? and How designers influence your emotions about those concepts?
Elements of fiscal policy that move the budget toward surplus as the economy expands and toward deficit as it contracts are called ________.
Do you agree or disagree with the following statement? "Politicians would make more rational economic decisions if they weren’t running for re-election every few years.” Are there any benefits of making politicians go up for re-election?
Given the importance of the M-Pesa to the rising economic growth of the Kenyan economy, why would Kenyan government take 10% tax off the employees pay check?
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