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If the government sets a maximum price for gasoline above the equilibrium price:
a. quantity demanded of gasoline will equal to quantity supplied of gasoline.
b. there will be excess demand for gasoline.
c. there will be excess supply for gasoline.
d. demand for gasoline will be less than supply for gasoline.
Briefly discuss the impact of rational self-interest on each of the following decisions. Whether to attend college full time or enter the workforce full time.
q1. studies have fixed the short-run price elasticity for gasoline at the pump at -.20. suppose that international
Suppose both Smith and Jones utility functions of U(X,Y) = XY1/2. Smith is endowed with (X, Y) = (9,25) and Jones is endowed with (X, Y) = (25,9). Draw an Edgeworth box with indifference curves through this endowment.
To counter parents' concerns about fast foods and childhood obesity, McDonalds considered: Domestic currency depreciation will:
Census data indicate that, as of 2008, the top fifth of all households receive about ________ times as much income as the bottom fifth
Report demand graphic as well as independent variables that are relevant to absolute a demand analysis providing a rationale for the selection of the variables.
Elucidate the effect of capital formation by comparing the present times and ten year in the future for thtwo economic.
Sage has $80 to spend this month on CDs and/or DVDs. A CD costs $10 and a DVD costs $20. What is the opportunity cost of the second DVD? Indicate on your graph the combination point showing Jane consuming 8 CDs and 4 DVDs (label it A). What can you s..
Three months ago you purchased, at par, a $100,000 bond with a stated interest rate of 5%. Today, the Federal Reserve announced
As far as I can tell, research on the economics of poverty is very empirically driven, and this is probably appropriate. What kind of economic theory has been developed though? I'd also be interested in theory of some influence too. As an example, I ..
Consider a copy shop with annualized fixed costs of $1000 and variable cost of $0.03 per page. The shop presently has orders for 100,000 copies at a price of $0.05 per page. What is the shop’s average cost (AC) without taking the new order? Is it les..
Conspicuous consumption refers to:
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