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The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped? Provide an example. What could cause the demand curve to shift?
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
From an economist standpoint, why might there be more research, development, and innovation occuring in oligopolistic market structure than in any other?
Demand and supply schedules
Determine which of the following nations would you expect to have intertemporal production possibilities biased toward current consumption goods,
Why does rent control result in a shortage of rental units.
If the total cost of producing 20 units of output is $1000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?
Suppose you own a franchise of rental car bureaues in Florida. You recently get a report indicating that about 80% of all tourists visit Florida during winter months in any given year,
Choose an article in a newspaper or magazine that discusses a United States government policy on goods or services.
Determine what type of monetary policy has the Federal Reserve been using for the last year easy or expansionary, tight or contractionary, or neutral or non-involvement)?
It is supposed that the liquid soap market is perfectly competitive and current price of a case of liquid soap is $42.00. The firm has estimated it's marginal cost function to be as follows: MC=0.006Q.
Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest).
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