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Question: Predict the direction of change for either supply or demand in the following:
A - several new companies enter the cell phone industry?
B- consumers suddenly decide SUVs are unfashionable?
C- the US surgeon general issues a report stating that tomatoes prevent colds ?
D- forst threathes to damage the coffee crop and consumers espect the price to rise sharply in the future?
E- the price of tea falls. What is the effect on the coffee market?
F- the price of suger rises. What is the effect on the coffee market?
G- tobacco lobbyist convincs Congress to remove the tax paid by sellers on each carton of cigarettes sold?
H- a new type of robot is invented that will pick peaches?
I- nintendo anticipates that the future price of its games will fall much lower than the current price
Calculate consumer surplus. Shade appropriate area in graph, calculate producer surplus. Shade appropriate area in graph - Calculate total surplus
What has been the long-term trend in the exchange value of the dollar? What effect should changes in the exchange rate during this period have had on U.S. net exports? Briefly explain.
Experiments show that experienced bettors who use the Daily Racing Form outperform equally experienced bettors who have not been allowed to use it. Why?
ECO228W Paper Assignment. What are the main impacts of climate change? Why is it so difficult to address these impacts
Natural disasters: Suppose a large earthquake destroys many houses and buildings on the West Coast but fortunately results in little loss of life.
Since 1997, at least three million vehicles have been recalled due to air bag related troubles. Of these, roughly half were due to troubles of the sort that only time and road experience are likely to reveal.
Consider the following utility function-find the hicksian deman function for x and y, find the expenditure function, without solving the utility maximization problem, recover the indirect utility function and the Marshallian demand functions.
Show that if owners of capital save all their income and workers consume all their income, the economy reaches the golden rule of capital accumulation. Explain the results.
The owner of a flower shop needs a short-term loan to tide her business over until she completes the sale of some unused property.
What were the effects of the policies implemented in reaction to the crisis?
A firm produces 4,000 units of output using 500 workers. Marginal cost is $10, the wage rate is $160, and total fixed cost is $100,000. What is the marginal product of labor?
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
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