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Suppose the demand for car washes in Collegetown falls as a result of a cutback in college enrollment. Show graphically how the price and output for the market and for a single firm will be affected in the short run and in the long run. Assume the market is perfectly competitive and that it is initially in long-run equilibrium at a price of $12 per car wash. Assume also that input prices don't change as the market responds to the change in demand.
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
If banks desire to increase their lending, but the Federal Reserve is not adding reserves to the banking system, what will happen to the level of short term interest rates? Explain your answer carefully.
Explain the effects of the new factory on the items below. Then place the number of each item on the circular-flow diagram to show whether the activity takes place in the product market or resource market
The following question depicts the market for oranges from Murray valley, which are sold in units of 90 kilogram boxes. The upward sloping (orange) line represent soppy , and the downward slopping(blue) line represent demand
The Milwaukee Brewers are playing their archrival Chicago Cubs.Bleacher tickets for the game were sold out and many fans would have attend if tickets were availiable.
Perform residual analysis using time series plots, autocorrelation analysis, histogram and a normality plot to determine if the residuals are random. Show the graphs.
Assume an economy operates in the intermediate range of its aggregate supply curve. State the direction of shift for the aggregate demand or aggregate supply curve for each of the following changes in conditions:
The following are the approximate U.S. market shares of dissimilar cigarette companies: Altria, 47 percent; Reynolds American, 26 percent; Imperial, 5 percent; Lorillard, 14 percent; total for all other brands, 8 percent. Suppose “all other brands” e..
Compare and contrast four of the main economic activities in Namibia and benefits each of them contribute to the economy of the country.
Compute the effective annual interest rate 10% nominal interest compounded semiannually, 10% nominal interest compounded quarterly, 10% nominal interest compounded weekely.
Why is mutual interdependence important under oligopoly, but not so important under perfect competition, monopoly or monopolistic competition?
1. What are the three basic protections for arbitration laid down by the Supreme Court in the Steelworkers' Trilogy? Explain the steps involved in choosing an arbitrator using the American Arbitration Association. Discuss the presentation of the case..
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