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Aqua Springs makes the following four statements about bottled spring water. Which statement best describes the? firm's quantity supplied in the bottled water? market?
A. We would sell more water if the demand for it were greater.
B. ?We'll switch from plain water to sparkling water if sparkiing water is more profitable.
C. At a price of? $1 bottle, we plan to sell? 2,000 bottles per day.
D. If we could get a higher ?price, we'd bottle more water.
In a world of two goods (say, x and y) an increase in the price of x which is accompanied by money compensation for the income effect alone will lead to:
What is the value of the covariance between the initial investment W0 and the investment value at the end of the month W1? Are those variables independent? Compute E[W1], Var(W1) and sd(W1).
When a country is forced to buy and sell currency on the international foreign exchange market to maintain its currency's value, what type of exchange rate does it use?
A firm uses labor and capital to produce output according to the production function q=100KL, where L is the number of units of labor used and K is the number of machines. What is the marginal product of labor. What is the marginal product of capital..
The Physics Club sells E = mc2 T-shirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A quadratic regression based on old sales data reveals ..
Supply and Demand in the U.S. Car Market. Please include a graph showing the initial equilibrium and the new equilibrium with the corresponding price and quantity and an explanation to support your answer. As the price of gas increases, what happens ..
Suppose in the first quarter of the year, Real GDP was $400 billion; in the second quarter it was $398 billion; in the third quarter it was $399 billion; and in the fourth quarter it was $395 billion. Has there been a recession? Briefly explain how e..
An experimental composite engine block for an automobile will trim 20 pounds of weight compared with a traditional cast iron engine block. It is estimated that at least $2,500 in life-cycle costs will be saved for every pound of weight reduction over..
Write an essay on (or discuss) judicial activism. Present the arguments on both sides of the question as to whether judges should interpret or simply apply the Constitution. Provide more current examples (the current Supreme Court docket) and predict..
what is the cost of 2005 market basket at 2005 prices? what is the cost of 2005 market basket at 2006 prices? what is the value of the price index in 2006? what is the inflation rate in 2006? which price rose more rapidly, credit hours or hamburgers?
Consider a labor market in which the intersection of the demand curve and the supply curve occurs on the “backward-bending” part of the labor supply curve (i.e. the part where the labor supply curve is downward sloping), but the demand curve is steep..
Your friend, Sarah Occupy, is complaining, “The one percent is at it again! They want to cut the payroll tax that employers pay to finance unemployment insurance. This will help employers but do nothing to help the workers.” Is Sarah right or wrong? ..
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