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The price of oranges has risen dramatically. Which of the following is likely to happen?
a) The demand for apples will decrease
b) The demand for orange juice will decrease
c) The supply of apples will increase
d) The supply of orange juice will decrease
e) Both c and d are correct
Illustrate what cost should each industry charge if it wants to maximize its profit. Why are costs and output of industries 1 and 2 same however different for industry 3.
When the competition is intense and the environment is changing rapidly, it is especially important to
many supply shipments to retailers are interrupted during a natural disaster. Assuming that the law is strictly enforced, illustrate what are the economic effects of the price gouging statue.
Illustrate what was the main criticism of the present Texas constitution behind the Ratliff-Junell proposal for a latest constitution.
Once upon a time there was a sacred temple hidden in the deep mountains, in which believers gathered to exercise meditation to become saints. The believers sat in a circle facing each other while meditating during the day, and retired to their separa..
Illustrate what can the marketing director do to increase the explanatory power of a trade's equation.
What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the two purchases?
Illustrate what effect might economic and socioeconomic forces within that nation have on product's potential.
How fares paid by consumers, in East and West Berlin after unification; given that living standards are much higher in West than in East Berlin. Assume the market for taxi cabs is competitive.
find out goods that lie near these extremes. Characterize demands for the following goods as being near perfectly elastic or near perfectly inelastic.
assuming economy is in a long run equilibrium, show fraction of total output earned by labour and fraction of total output earned by capital. Explain why, in long run, firms make zero economic profits in this economy.
Illustrate can the oligopoly market structure make profit for both consumers and businesses by forging common standards in industries that experience rapid technological change.
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