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Suppose that the market for engagement rings is in equilibrium. Then political unrest in South Africa shuts down the diamond mines there. South Africa is the world's primary supplier of diamonds. What will happen?
Each customer purchases their smoothie at the store where the total cost, i.e. price of smoothie plus travel cost, is the lowest.
Assuming that the income effect is negligible, how much will he be hurt if the cost of strawberries goes from $1 a pint to $2 a pint.
Illustrate what is the four industry concentration ratio of the hamburger organization in this town.
Illustrate what does this imply about the effectiveness of monetary and fiscal policy to reduce the unemployment rate.
What are the two characteristics of public goods. Is U.S. border control a public good or a private good.
How to design an experiment to test the theory that changing the oil of the new backhoes and forklifts will reduce repairs.
A farmer owns a plot of ground also sells the right to pump crude oil from his land to a crude oil producer.
Explain do you think McDonald's new launch will have a sustainable impact on its bottom line.
Explicate why the cost structure associated with many kinds of information goods also services might imply a market supplied by a small number of large firms.
Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Describe how each of these activities affects government, households, and businesses. Illustrate flow of capital starting from one entity to another for each activity.
Elucidate how much profit does an individual producer make in a month. Is this a long-run equilibrium.
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