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Using supply and demand analysis, describe the effect of each of the following events on the market for cigarettes. Your description should include which curve shifts, supply or demand, which way the curve shifts, left or right, if the equilibrium price increases or decreases and if the equilibrium quantity increases or decreases.
a. The price of cigars decreases
b. The price of e-cigarettes increases.
c. A fertilizer that increases the yield per acre of tobacco is used.
d. There is a substantial increase in the price of matches and lighter fluid.
e. The legal age to buy cigarettes is lowered to 12.
Illustrate why are companies using more technology input while reducing labor input. Why are the Average Cost Curves U-shaped.
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You know that marginal cost of last unit is $30. Should industry continue to operate at a loss. Carefully elucidate your answer
Describe how the following statements relate to the AD–AS model:
Assume that the inflation rates in 2010, 2011, and 2012 were 1%, 2%, and 3% respectively. During the same periods, nominal interest rates were 5%, 5%, and 6%, respectively. What are the ex-post real interest rates in 2010, 2011, and 2012?
Explain Management Information System and how it can help to grow your business and assess the impact of low-quality information on an organization and the benefits of high-quality information on an organization
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There is an inverse relationship between bond prices and yields. This inverse relationship will be demonstrated by calculating bond prices to show that interest rates move inversely: if yields rise, then bond prices fall. Bonds will be sold either at..
The intercept of a compressed demand function is 10,000 and the coefficient of inverse demand function is – 0. 4. Calculate the following: demand curve ; total revenue curve ; profit maximizing price, when MC = $0.
Research the government shutdown using legitimate news and political sources. Describe the effect the government shutdown had on federal services and federal spending. Do you believe there were lasting effects from the government shutdown (if so - de..
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