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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. 1. Draw the demand and supply lines for bleacher tickets for this game. Label the equilibruim bleacher price and the current bleacher price. Label the equilibrium price and state whether the actual price is above or below equilibrium. 2. Did the Brewers use the optimum pricing policy? Explain. If not,explain. 3. What is the main rationing mechanism to allocate tickets for the game?
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Marginal propensity: 0.63 - 0.76 what is expenditure multiplier? wil increase from __ to _____ and if multiplier increases, everything else equal. changein expend. will raise aggreg. ependiture to a [larger,smaller,same] amount
Assume that all banks in the banking system have a 10% reserve requirement. Further, assume that all banks in the banking system are fully loaned up both before and after Joe makes his deposit.
Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
You're a manager at the Chevrolet division of General Motors. If your marketing department estimates that the semiannual demand for the Chevy Tahoe is Q = 100,000 - 1.25P
The demand for lumber, like that for carpenters, is a derived demand-derived from lumber demand in its many uses, particularly housing. When the demand for new housing increases, so does the demand for lumber. For example, as the U.S. economy reco..
You perform a travel cost study that looks at the relationship between the cost of visiting a lake (including costs of travel, value of time spent not working & any entry fees),
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
You inherit a package of call options on a stock currently selling for fifty three dollar. In a year, the stock could sell for anywhere between $40 and $80.
10 annual purchases of $1000 worth of common stock. The stock paid no dividends. Then for 4 years all the stock sold for $28,000. What interest rate obtained on the investment?
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