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Sketch a simple supply-demand graph for sunflower, with price on the vertical axis and quantity on the horizontal axis. Don’t worry about quantities or slopes, but make sure demand has negative slope, supply has positive slope, and the two lines cross. Identify the price and quantity sold on the axes (no numbers, just the points on the lines). Now draw a second demand curve to the right of the first, and parallel to it. What happens to the price? What happens to the quantity sold? What could be the reason of this demand shift?
q1. assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in
General Electric paid its line workers $10 per hour last year when the Consumer Price Index was 100. Suppose over the past year that deflation occurred and the aggregate price level fell to 80.
Select a model that you have some experience with and determine what types of specification errors you might encounter. Provide examples to support your response. Develop two or three best practices to help mitigate the error(s) you identified above...
Determine if each of the following value functions is loss averse.
In The Wealth of Nations, Adam Smith wrote, "Every individual endeavors to employ his capital so that its produce may be of greatest value. He generally neither intends to promote the public interest, nor knows how much he is promoting it.
A company is considering replacing a machine that was bought six years ago for $50,000. The machine, however, can be repaired and its life extended by five more years. The seller of the new machine has offered a trade-in allowance of $15,000 for the ..
A famous American has been visiting the same tropical island for 15 years for vacations. When she goes she pays for everything by writing checks drawn on her U.S. bank. The currency the natives use are not U.S. dollars; they use a currency called a f..
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
Graphically depict using the Average Total Cost curve (among others) why efforts to break up a monopoly into many small firms will not be successful. Explain your intuition as well.
Different market structures are prevailing in ourdifferent sectors like agriculture, power supply, transport industry, cement industry,restaurants, etc. Analyze and compare the characteristics of all marketstructure with respect to the given secto..
Elucidate why is productivity related to the standard of living. In your answer be sure to explain what productivity and standard of living mean. Make a list of things that determine labor productivity.
Consider the following demand and supply relationships in the market for golf balls: Qd = 90 − 2P − 2T and Qs = −9 + 5P − 2.5R, where T is the price of titanium, a metal used to make golf clubs, and R is the price of rubber. a) If R = 2 and T = 10, c..
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