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In order to form a common market or an economic union, the participating countries would need to reduce their traffis and quotas, but what else specifically would they have to agree to do?
Suppose Georgette earns $13 an hour installing transistorized digital chips in electronic calculators. If you were unemployed, would you offer to work for $8 an hour to get the job? Why might a profit-maximizing employer turn down your generous offer..
Suppose that Omar’s marginal utility for cups of coffee is constant at 4.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
What is imperfect optimization and why might it be costlier, in relative terms, for the poor than for the rich? Please suggest a public policy solution that may address this issue, drawing on your readings in behavioral economics.
q.suppose initially that the demand also supply for premium coffees 1lb bags are in equilibrium. now suppose starbucks
Other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur?
Suppose an olligopoly consists of two firms Firm A lowers price and Firm B responds by lowering its price by the same amount. If averages costs and industry output remain the same, which of the following what will occur
In a two year setting Rod has earnings of $8000 this year and earnings of $25,000 next year. He can borrow or lend at an interest rate of 25%. Draw his budget line including endpoints. What is the slope of the budget line? What is the interpretation ..
Quantity: Increase/Decrease (select one) Determinant: One of the determinants for demand (TRIBE) or supply (ROTTEN) that causes the shift. a) The price of natural gas, a resource used by manufacturers throughout the United States, doubles.
Organizations hope to increase productivity and spur growth when they adopt mobile technology. Unfortunately, integrating new technology does not always go as smoothly as some businesses would like. With a wide variety of users and ever-evolving c..
Combining what we learned from the quantity theory with what we learned about the fisher effect, we expect to see that, when a nation's M2 growth rate increased by 5%:
An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dolla..
which revealed that the buyers were, on average, willing to pay a premium of $295 for an IBM computer.
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