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A dramatic price increase in gasoline will have what effect on the equilibrium in the automobile market?
1. Price will decrease, and quantity will increase
2. Price will increase, and quantity will decrease
3. Price will increase, and quantity will increase
4. Price will decrease, and quantity will decrease
What are the profit-maximizing price and quantity and what will be the profits at these price and output levels - what will be the profit-maximizing price, output, and profits? Who bears the burden of the tax? Why?
Determine whether a permanent increase in the size of the labor force and an improvement in technology, other things held constant, would lead to an increase, a decrease, or no change in long-run aggregate supply
Terry wants to sell his car and the lowest price he is willing to accept is $3,000. Alice likes the car and is willing to pay at most $4,000 for it. They begin to negotiate to arrive at a price. Which of the following statements will be true?
A firm with market power produces widgets at marginal cost of $10 per unit and zero fixed costs. It faces demand function given by P = 50 - Q. Find out the marginal revenue for the firm?
Calculate the profit each firm earns in equilibrium.You are a manager for Herman Miller—a major manufacturer of office furniture. You recently hired an economist to work with engineering and operations experts
Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the chosen product and explain how the necessity of a good and the availability of substitutes impact the price elasticity of the prod..
what kind of industries does a localization strategy makes sense? why? when does a global standardization strategy make
Anti-trust authorities at the federal trade commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the same market will increase market power. A hearing is scheduled for ..
q1. on the milan bourse fiat stock closed at eur31.90 per share on friday september 10 1999. fiat trades as and adr
teresa and sam need to decide which one will take of work to dig holes. teresa is faster and can do it in 30 min but
Sort the items below according to whether they promote economic growth or inhibit economic growth-Price controls imposed on milk, The enforcement of trademarks, The government confiscating farmland, The presence of clearly defined property rights
imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following
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