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The demand curve for rutabagas is a straight line with slope 23 and the supply curve is a straight line with slope 2. Suppose that a new tax of $3 per sack of rutabagas is introduced.
a. The price received by supplier’s falls by more than the price paid by demanders rises.
b. The price paid by demanders rises by more than the price received by supplier’s falls.
c. The total number of rutabagas purchased increases.
d. The price paid by demanders rises by more than $3.
e. The price paid by demanders rises by the same amount as the price received by supplier’s falls.
They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house.
Discuss the approach of utility maximization considering consumer behavior. Do you know the examples that confirm this theoretical point of view? Emphasizing how knowledge of the theory an contribute to the better understanding of life situations peo..
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If the current price of capital is $10 and the current price of labor is $25, is the firm employing the optimal input bundle for its current output?
Semi-Salt Industries began its operation in 1975 also remains the only industry in the world which produces also sells commercial-grade poly glutamate.
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After the first course in biology or chemistry, many decide to major in something other that the natural sciences. which of the 12 principles is at work here?
American exports cheaper or more expensive for importers of U.S. goods in Great Britain. Elucidate by showing the price of a U.S. cell phone in Britain, before and after the change in the exchange rate.
Suppose the government wants to achieve a level of Y=2,000. What level of T must be set to achieve the goal? Where C=200+0.5(Y-T), I=800, and G=300
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The salvage value at the end of five years is 0. The potential revenue in any given year is independent of any other year. Determine the mean and standard deviation of the present worth, using an interest rate of 12%.
Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 30. Explain how would you describe this industry.
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