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During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power? Why or why not?
Note that the first set of numbers represents the various incomes; whereas the second set of numbers represents the number of people earning each of these incomes. For example, in Avataria there are 50 people with the income of $100, 25 people wit..
skills are required for current also future employees to possess for the organization to be successful
Illustrate what do economist mean by this. How do they determine what the right amount of the good is.
Suppose that Lady Gaga goes to Las Vegas to play poker and at the last minute her record company says it will reimburse her for 35 percent of any gambling losses that she incurs. Will Lady Gaga wager more or less as a result of the reimbursement of..
Assume that initially the goods and services market is in equilibrium at the potential
All of the following would cause the aggregate demand curve to shift EXCEPT a) improving levels of prosperity in other countries. b) a decrease in the price level. c) a deterioration of overall consumer confidence. d) an improvement in overall con..
Prove that a diminishing marginal rate of substitution either implies nor is implied by diminishing marginal utility.
An economist for a bicycle company predicts that, other things equal, a rise in consumer incomes will increase the demand for bicycles.
Illustrtae the possibly changes which the "accrual" accounting or the "cash basis" could bring into the financial statements.
Explain how might a high school student's experience with inflation differ from an employed urban adult.
Suppose the government is concerned that the going wage rate of $6 per hour for low skilled workers is too low.
eBay.com is a vast auction site that is similar to a competitive market in some ways but also differs from it in others. Which of the following describes how eBay resembles a competitive market.It is easy to enter and easy to leave eBay.
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