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Two hamburger restaurants are located at opposite ends of a north-south shopping mall. From end to end, the shopping mall is 1/2 mile in length. Restaurant North and restaurant South each sell hamburgers for $5.00. A shopper incurs $0.10 per 1/8 mile in travel costs. Shoppers who plan to eat hamburgers are uniformly distributed around the shopping mall. Suppose that restaurant North lowers the price of its hamburgers to $4.90. Suppose that restaurant North raises the price of its hamburgers to $5.10. Other things being equal, how many shoppers will eat at North?
a. 37.5 percent b. 28 percent c. 31 percent d. 44 percent e. 32.5 percent
Describe the economic implications for the United States of the rise of China and India as significant economic powers.
A woman managing a photocopying establishment for $25,000 each year make a decision to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows:
Consider a market where supply and demand are given Qx^s=-10 +Px and Qx^d= 56-2Px. Suppose the government imposes a price floor of $25, and agrees to purchase any and all units concumers do not buy at the floor price of $235 per unit.
Suppose the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound of money supply.
Economic data has shown a relationship between Inflation and Unemployment rates. What is this relationship called? What are some determining factors of the relationship? How has government fiscal/monetary policy been utilized to attempt to manage ..
Elucidate economists use two major approaches to estimate incremental environmental costs. Which in your view likely produces the most reliable estimates.
Some politicians have proposed changing the way social security benefits are taxed. One proposal would increase the amount of Social Security benefits included in gross income to 100 percent
price floor. There is considerable interest in whether the minimum wage rate contributes to teenage unemployment. draw a demand and supply diagram for the unskilled labor market, and discuss the effects of minimum wage. Who is helped and who is hu..
Explain why might the unemployment rate tend to actually underestimate the unemployment problem, especially during a recession.
Assume that there are two power generating plants that emit SO 2 (sulphur dioxide). In the absence of regulation they each emit 10 tons of pollution per month.
For the past four years, Armonco Manufacturing has been offering a three-year limited warranty on all appliances it manufactures. Although all appliances are given a unique serial number when manufactured, until this year Armonco had no capability..
The owner of the Los Angeles Dodgers has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q-How much revenue does the owner make at the current price?
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