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True or False and why: If the demand increases for a product like gasoline and there is no change in the supply of gasoline at the same time, then using SUPPLY and DEMAND CURVES, the new equilibrium price might go up or stay the same, or be lowered.
Pepsi uses advertising to create the impression that Pepsi is superior to any other soft drink. Pepsi is attempting to:
Assume new suppliers enter the market due to the increase in demand so the new supply curve is Q= -500 + 10P. Illustrate what are the new equilibrium price and equilibrium quantity.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 60 - 0.25P, and the marginal cost of production is $80. Determine the optimal number of units to put in ..
You decide to open a retirement account at your local bank that pays 7%/year/month (7% per year compounded monthly). For the next 20 years, you will deposit $500 per month into the account, with all deposits and withdrawals occurring at month’s end.
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept. You call your friend, an econo..
q1. the precursors of todays engineers listed in the quotation from wickenden had no classes and few or no books from
Although there seems to be a great demand for your bread, why would productivity decline when you hire more labor in the short run?
The national economy has been in a slump for several years, but recent signs of strength in much of the economy have led many forecasters to conclude that an expansion could finally be in the offing.
What is the firm's short-run demand function for input Z? How much input Z will the firm use when the price is $40? When the price is $80?
What are possible opportunity costs of opening Arctic lands to private extraction of as-yet unavailable resource endowments?
What are the values of the output and the interest rate in 1999 when the money supply is 900? Sketch the AD curve and show what happens when the money supply is decreased below 900 in 1998.
A firm is considering an investment that will earn a 6% rate of return. If it were to borrow the money, it would have to pay 8% interest on the loan, but it currently has the cash, so it will not need to borrow. Should the firm make the investment?
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