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If these events occour siimutaneously, the price of a substitute good (in consumption) increases; the price of inputs used to produce the good increases. How can I for each of the pairs of events perform a qualitative analysis to predict the direction of change in either the equilibrium price or the equilibrium quantity? And why is the change in one of these two variables is indeterminate?
Austin's auctions conducts online auctions on behalf of clients trying to dispose of liquidated dental laboratory equipment.
1) Describe the circular flow model of the free-market system.
Next, explain how this theory explains all three empirical observations(Preferred Habitat Theory). Interest rates on bonds of different maturities move together over time.
Describe the Malthusian projection about limits on economic growth, and discuss what factors have proven him wrong (if you think he was wrong). Or, if you think his predictions are still valuable, discuss what limiting factors, particularly demograph..
Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil produces 100,000 units of clothing per year and 50,000 cans of soda
If the only pool cleaning service in town charges $50 per cleaning, he has 10 weekly customers and wants to add an 11th customer, and he needs to drop his price
Privatization can be defined as "the process of returning to the private sector property or functions previously owned or performed by government". The basic idea is that there may be some services that the government is providing right now that the ..
In countries such as Zimbabwe, which had problems with high inflation, the increased use of another country’s currency (such as the U.S. dollar or South African rand) became common. Why do you suppose this occurred?
A construction manager just starting in private practice needs a van to carry crew and equipment. She can lease a used van for $3577 per year, paid at the beginning of each year, in which case maintenance is provide.
How many bushels will each of the farmers five acres produce and How much revenue will each acre generate? What are the TR and MR for each acre?
There are 24 hours in a day. Assume Elaine has to sleep, wash, eat etc. for 10 hours of each dayleaving 14 hours for either work or play. That is, only consider her 14 free hours. Elaine earns $5 an hour. If she works 8 hours what is her daily income..
Draw the Hick's income and substitution effects for c1,c2 in c1,c2 space if the interest rate decreases to .05.
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