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Cars are lasting longer. The expected number of miles traveled over a vehicle's life has risen to 180,000 miles in 2001 from 128,000 in 1977. However, new car buyers tend to keep their cars about the same length of time before trading them in. Using supply and demand analysis, show how this change, ceteris paribus, impacts the market for used cars and the market for new cars. (Hint: only one curve shifts in each market).
Jerry receives utility from days spent traveling on vacation domestically (D) and days spent traveling in a foreign country (F) as given by the utility U(D,F)=DF. Find the marginal utility of domestic travel and foreign travel. Using the marginal uti..
The work by Milton Friedman altered the consensus that had developed in the aftermath of the Great Depression on how the economy should be managed. As a result, the current goal of economic policymakers is to: reduce the magnitude of both downturns a..
q.a city is planning a new convention center and has received bids from two contractors. the center one contractor
Illustrate what is the expected annual demand also the total revenue corresponding to your recommended price
If the United States is a net importer of a product that is being subsidized or dumped by Japan, not only do US consumers gain, but they also gain more than US producer lose from the subsidies or dumping. Explain why.
A highway department is considering building a temporary bridge to cut travel time during the three years it will take to build a permanent bridge. The temporary bridge can be put up in a few weeks at a cost of $740,000. Calculate the present value o..
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
q.the clear brook high school band is holding a car wash as a fundraiser to buy new equipment. the average time to wash
clearly show on youre graph the old equlibrium price and quantity. Can you tell for certain whether the new equlibrium price will be higher or lower than the old equilibrium price?briefly explain.
q1. compare and contrast the way classical and keynesian theory determine the demand for money and how it is related to
Elucidate how Levitt devised a means of examining student test scores to uncover evidence of cheating teachers. Explain also why Levitt's analysis of the data constituted evidence, but not proof, of cheating.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
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