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Landlords have been known to place bricks in the water tanks of toilets to economize water when price rises. Therefore, bricks are substitutes for water in this context. True or False, explain.
I feel like it is false because bricks are not a good in this context...I am really confused.
Also, I need help clarifying this statement: I understand the first part but not the bolded...
If half of our forests were destroyed in a fire, the value of the remaining lumber would be greater than the value of all lumber in the country before the fire. This absurdity - that the whole is worth less than the half - shows that values are distorted in a market economy.
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
Describe each country's reaction function. Does a Cournot equilibrium exist? If so, find the outputs and prices of crude oil in the two countries.
Why does inflation affect increase in Social Security and or profits. Is this effect a cost of inflation, as article suggests. Why or why not.
Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles
Using supply and demand and competitive analyses, explain what happens to a pharmaceutical company’s revenues and profits from an individual drug once it loses its patent protection. Then identify at least one strategy the company can use to mitigate..
There are five flights daily from Pittsburgh via US Airways into the Bradford, Pennsylvania, Regional Airport. Suppose the probability that any flight arrives late is 0.20, the probability that none of the flights are late today is [a]. (Note: keep t..
workers of world ought to postpone uniting until or scores are settled. Can we still say that terrorists have not conquered us.
The definition of a price maker is a firm with some power to set the price because the demand curve for its output slopes downward which in effect means those firms with a downward sloping demand curve have some market power.
q.bud owen operates buds package store in a small college town. bud sells six packs for off-premises consumption. bud
if demand is perfectly elastic the demand curve is horizontal. if demand for x shifts right as the price of good y increases, then x and y are substitutes. supply shifts rightward if input prices rise. it is possible for an economy to be inside its p..
Show how the answer depends on the shape as well as location of the supply as well as demand curves.
Dan Demaar and Rob Runten are working on a class assignment on economic growth. Dan collects the GDP growth data for the country Fanez, which is located in the Middle East.
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