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What happens to the supply and demand curve when The price of tuna fish goes up and a new machine makes peanut butter production cheaper.
How is perfect competition similar and different from monopolistic competition? What is the primary difference between perfection competition and monopolistic competition? By this I mean the difference that causes the rest of the differences? How are..
An engineer deposits $880 each month into a retirement account. After 30 years, the balance in the account is $1.9 million. Determine the effective annual rate of return for this account.
Do you agree? Why or why not? According to Krugman, how do you explain the fact that since the nancial crisis the US government budget decit has exploded, yet at the same time the US Current Account decit has actually decreased. What happened to t..
If one country has per capita income of $15, 000 and its economic growth rate is 5 percent per year, what will its per capita income be in 10 years? About how many years will it take to catch up to a country where the per capita income is $30, 000 pe..
What is the equilibrium price and quantity (P* and Q*) in the market for oranges with the following conditions? An event in Florida changed the supply of oranges. Demand did not change. The new supply equation is Q=5+P What is the new equilibrium pri..
The initial cost of a piece of equipment is $10,000, and it has a salvage value at the end of its 10 year life of $1,000. Maintenance cost is estimated to be $500 the first year and increase $50 per year to the end of its 10 year life. If the company..
The price of natural gas has been going down for a few years. Graphically show and then explain what has occurred and why (reason for shift)? You can make up a reason as well as long as you support it.
The Affordable Care Act:
Consider the model of land assembly (under the topic Eminent Domain). Suppose, at each stage of negotiation between the property owners and the buyer, the owner can extract α fraction of the net total surplus/gains from transaction at hand. (Note: th..
It is a common belief that social security benefits will run out in the near future. How can we save social security?
What is the difference between adverse selection and moral hazards? Use detailed examples to explain what the two concepts imply. In the context of your examples, discuss how the problems associated with moral hazards and adverse selection can be res..
Suppose you have $440 to spend on either concert tickets or CDs. Concert tickets cost $11 each, and CDs cost $8 each. Let T = the number of concert tickets, and C= the number of CDs. Write the equation of the consumers budget constraint
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