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. An economic principle is that people respond to incentives. Identify the incentives and discuss the possible outcomes. a) The city of Winnipeg decides to set a rather high regulated parking fee in downtown in order to reduce traffic congestion.2. The purpose of this exercise is to acquaint you with some simple mathematical relationships and how they translate into graph. Economic models can come under the form of equation such as Y=F(L), Y is depandent variable, L is indepandent variable, F is function. when equation are sufficiently simple, they can be put under the form of a curve in a graph. consider the equation Y=2xL, where Y is the number of apple pies that Jonathan can cook in L hours. this equation describes the process of producing apple pies. d) Identify a few assumptions that underlie your apple pie production model. e) Are your assumptions realistic.3. How each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market; that is do price and quantity rise, fall, remain unchanged, or are the answerd indeterminate, depending on the magnitudes of the shifts in supply and demand? You should rely on supply and demand diagrams to verify answers. a) scientists reveal that consumption of oranges decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes the orange trees MORE productive. b) a) MORE changes to LESS.
Prepare a 2 page paper using APA format discussing Airline Ticket Prices.Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
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It is often said that a good theory is one that can be refuted by an empirical, data-oriented study. Explain why a theory that cannot be evaluated empirically is not a good theory.
a tell me why you selected the appropriate exponential smoothing method by commenting on your y data
Cups of coffee and donuts are complementary. Both have inelastic demand. A hurricane destroys half of the coffee bean crop. What happens to the price of coffee beans? What happens to the price of a cup of coffee? What happens to the total expenditure..
You are the chief economic adviser in a small open economy with a floating-exchange-rate system. Your boss, the president of the country, wishes to increase the level of output in the short run in order to win re-election.
1. consider a demand curve of the form qd20-2p. also consider a supply curve of the form qs2p-4. graph both curves
1. collect data for a countrys gdp on a quarterly basis.2. run a regression using some statistics or econometrics
The prisoner-of-war camp described by Radford in the text (Application Box 7.1) periodically received large shipments of cigarettes from the Red Cross or other sources. How did cigarette shipments affect the price level (the prices of goods in terms ..
taxicab fares in most cities are regulated. several years ago taxicab drivers in boston obtained permission to raise
Suppose that a perfectly competitive industry is in long-run equilibrium, and demand increases. Explain the short and long- run effects on the firm and the industry.
Give two conditions that are important to the efficient market theory. List one implication of the efficient market theory.
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