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Using demand and supply analysis, briefly discuss the effect of each of the following on the market for cigarettes: a) A cure for lung cancer is found. b) The price of cigars increases. c) Wages increase substantially in states that grow tobacco. d) A fertilizer that increases the yield per acre of tobacco is discovered.
If the number of employed people in a population is 149,444 , the unemployment rate 5%, and the Labor Force participation rate 62.5%, calculate the working age population, number of unemployed people, and the Labor Force.
Consider the savings plans for two investors-we'll call them Mary and Bill- who began inversting 10 years apart. Both put the same amount of money aside ($100 per month for 20 years for a total of $24,000). Mary and Bill earned the same interest rate..
Two fi?rms compete in a duopoly market. Each fi?rm chooses a quantity and the price in the market is determined from the following inverse demand function.
According to the Bureau of Labor Statistics, the distribution of consumer expenditures. If the negative income tax rate is set at 50 percent and the income floor is set at $5,000, a family that earns $3,000 would have a total income (including the in..
Develop a paper detailing an analysis of market structures and relating pricing strategies that are suitable for each of these structures. Furthermore, include a real world example of pricing strategy for a specific company by identifying its market..
Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age o..
Judged in terms of the mechanisms used to allocate resources, the former USSR was
Andy purchases only two goods, apples (q1) and kumquats (q2). He has an income of $40 and can buy apples at $2 per pound and kumquats at $4 per pound. His utility function is U(q1,q2)=3(q1)+ 5(q2). What is his marginal utility for apples and what is ..
Suppose regression of y on x with a sample of size 37 yields 2 R = 0.4. What is the correlation coefficient between y and x?
An automatic veto that occurs when Congress goes out of session within ten days of submitting a bill to the president and the president has not signed it, is known as
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers. what would be the no pecuniary cost of legislation that would place a $1.50 cap on the ..
Under illustrate what circumstances should the debtor nation status of the United States (US) be a concern.
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