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Which of the following changes would not shift the demand curve for a good or service?
A) a change in income
B) a change in the price of the good or service
C) a change in expectations about the future prices of the good or service
D) a change in the price of a related good or service
Peggy-sue's cookies are the best in the world, or so I hear. She has been offered a job by Cookie Monster.
Sally and Joe recently graduated from college, both majoring in history. Joe took a prestigious job as a legal clerk. Sally took a job as a specialist in fighting forest fires. Both received additional training before entering their jobs. Who will li..
Assume that Omar's marginal utility for cups of coffee is constant at 1.5 utils every cup no matter Elucidate how many cups he drinks.
Jimmy’s preferences can be represented by the following utility function U = 2x + y. WealsohavePx =3,Py =3andW=100. What is Jimmy’s optimal consumption bundle? Calculate Jimmy’s income elasticity of demand for good x.
Explain your first instinct is to call the trade representative of your country to lobby against the import quota. Is following through with your first instinct necessarily the best decision.
Elucidate what would be the immediate and long run effects on c, k, and y. Explain by drawing the path of these variables. Consider that you impose the new saving rate.
Using supply and demand and competitive analyses, explain what happens to a pharmaceutical company’s revenues and profits from an individual drug once it loses its patent protection. Then identify at least one strategy the company can use to mitigate..
Show graphically and explain how long-lags in the effectiveness of monetary policy have the potential to lead to acceleration in the inflation rate. (Assume that the economy is in a recession when the Fed enacts the monetary policy change.)
Market power and externalities are examples of market failures. Taxes on labor tend to encourage second earners to stay at home rather than work in the labor force. Taxes cause deadweight losses because they prevent buyers and sellers from realizing ..
illustrate what type of unemployment will then occur. What is the natural rate of unemployment.
The Federal Reserve attempts to keep prices stable and unemployment low. Is there are a contradiction in these objectives? Describe the monetary policy tools that are available to the Federal Reserve to achieve these objectives.
Economies of scale exist whenever:
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