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1. Which of the following would not tend to lower the price of VCR? a. Decreasing price of DVD players. b. Increasing price of video cassettes. c. Improvements in VCR production technology. d. Reduced price of raw material used in making VCR'S e. Increasing price of pay per view movies on cable TV. 2. At a price of $9.50/pound, people buy 45 pounds of lamb. At a price of $10.50/pound, people buy 35 pounds of lamb. What is the arc elasticity of demand for lamb in this price range? a. 1.0 b. 2.5 c. 0.4 d. 3.0 e. none of the above 3.An unregulated negative production externality will cause a private market to A. Produce less than is socially optimal B. Produce more than is socially optimal C. Produce more than market equilibrium D. Produce less than market equilibrium E. Produce the amount that is socially optimal 4.On the foreign exchange market, an increase in a country's exchange rate A. Decrease the quantity demand of its currency B. Increase the quantity demand of its currency C. Has no effect on the quantity demand of its currency D. Decrease the quantity supplied of its currency E. has no effect of the quantity supplied of its currency
What"s wrong with this way of thinking? “Economists claim that when the price of something goes up, producers increase the quantity supplied to the market. But last year, the price of oranges was really high and the supply
The major social assistance program in the U.S. is: The program that provides funds to single-parent households is called: Which of the following is considered to be an in-kind transfer payment? Which of the following is p an inherently entrepreneuri..
youre biomeds resident economic expert. harry the ceo is asking you to complete a time-sensitive project that another
According to the articles, why did prices rise sharply over the past 5 years? Answer in terms of a supply-demand analysis, saying what specifically has happened to supply and demand and how this has increased prices.
How does a price ceiling undermine the rationing function of market-determined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government prices ceilings create shortage..
the president of the united states announces in a pre-conference that he will fight the higher inflation rate with a
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With an aid of diagram (consist of both demand & supply curves) show & explain what happens to the equilibrium price & quantity when:1. the preference for pepsi suddenly increases 2. the price of milk has increased which increased the cost of ice cre..
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
Freemiumis a business model that gives free access but charges for premium features. Many social games fall into this category. On the social networks, why is it difficult to generate revenue through advertising? Why is it particularly hard for..
why would cash transfers typically be preferred by recipients over in-kind transfers? what are the pros and cons of
find two points on the curve that have a common tangent line. bonus prove that there are only two such points. i have a
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