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Q1. Assume Anna can either wash 12 cars or wax 4 cars every day also bob can either wash 6 cars or wax 3 cars every dayIllustrate what is the opportunity cost for doing each task for Anna also bob?
Q2. A student makes the following argument:
A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive equilibrium of market. Price ceiling on another hand increases the amount of a product that consumers buy because it keeps the price below the competitive market equilibrium. Do you agree with the student's reasoning? Use demand also supply graph to illustrate your answer
Use the aggregate expenditure model to explain the following statements from the opening news article.
determine what would happen to total revenue if a firm raised its price in each elasticity range identified.
Illustrate what was the impact on the supply and demand of labor on one sector of the labor market. Explain the factors that affected labor demand and labor supply in the chosen historical example.
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly.
q1. assume that a leader country has real gdp per capita of 40000 whereas a follower country has a real gdp per capita
q1. for handling a crisis of epic proportion hurricane flood blizzard forest fire and so forth which economic system is
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting ..
Discuss the role and the effect of reputation on cooperative behavior by selfish individuals. Discuss the biological reason for cooperative behavior with relatives.
q.pure pool services provide weekly pool maintenance in beverly hills. dozens of firms provide this service. the
Assume you are looking at data for an economy that uses only two inputs, physical capital and labour. Table shows output for different combinations of labour and capital.
As medicines which with brand names that the man recognise from television commercials sell for more than the unadvertised versions. elucidate in economic terms this perplexing situation to the father.
Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable.
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