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If the income and substitution effects of a price increase work in the same direction, the good whose price has changed is a:
a) Giffen good.
b) inferior good.
c) superior good.
d) normal good.
Why are economists concerned about the understanding or overstating potential GDP and what factors might have led potential GDP to rise in the late 1990s?
Assume that the home country experiences technological growth in the X sector such that α increases to 12. Describe the impact on the free trade price, the pattern of trade and gains from trade.
Using a supply and demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.
In the early 1980s, interest rates on long-term debt were at remarkable levels - above 15% with some even higher. Within a decade, rates had dropped precipitously. I have a couple of questions about that What would the effect of a decline in inte..
Suppose after submitting your sealed bid in a Vickery austion you find out that they have lost the auction(you were not the highest bidder); However, you have the opportunity to revise your bid. Would you go ahead and change your bid
Assume the price of every old edition microeonomic book. Determine the values of B and T that maximize Sam's utility.
Suppose the government removes a tax on buyers of a good and levies a tax of the same size on sellers of a good. How does this change in tax policy affect the price that buyers pay sellers for this good, the amount buyers are out of pocket includi..
Show the price and output that maximizes profit in this graph. Then use math to calculate the price and output that will maximize the firm's profit. Calculate your profits at this price and output level.
Elucidate what would the elasticity of supply have to be for a food stamp program to increase the availability of food to the poor with no prices increase.
Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enrollment.
Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation. Develop a bargaining situation from which you would conclude that access to market-related information
Describe regarding the best solution for preventing someone from making illegal copies of music files.
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