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A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers sold increased from 240,000 to 280,000.
Suppose the recent recession led to a drop in wages such that the price of labor fell by 25 percent.Economists predict that this drop will be sustained in the long run. Furthermore, the user cost ofcapital has not changed, nor is it predicted to. How..
Write down the utility function and the budget constraint for the consumer analysis.
Weekly inverse demand function is P=296-7Q, weekly inverse supply function is P=17+2Q. Find equilibrium price & quantity & solve for consumer & producers surplus. Then tax of $27 per equanimity is collected by supplier, solve for new consumer and sup..
The optimal thing to do when playing a prisoners' dilemma that is repeated for exactly 20 rounds against a rational player is to:
There are countless people in need of our services in America today, including the disabled, those with mental health challenges, those living in poverty, the homeless, and victims of violence and domestic abuse, just to name a few. See the list on p..
Home and Foreign both produce cars and food using labor and capital. In each country, labor and capital are both freely mobile across industries. It takes 5 units of labor and 3 units of capital to produce 1 unit of food, and 4 units of labor and 4 u..
Suppose the demand and supply are given by Qdx = 14 - 1/2 Px and Qyx = 1/4 Px - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium pri..
Do you agree/disagree with the following statement: If the government increases the excise tax on bikes, the prices of bikes will rise? However, this will then cause the demand to decrease and as a result prices will fall back to their original level..
What are the elements of global economy that play vital role in a company's existence?
Think of a strategy pursued by the company your work for or another company. How can game theory help improve the outcomes for the decision makers? Explain whether simultaneous-move, repeated-move, or sequential-move games are most applicable in the ..
Which model can show both unemployment and inflation occurring at the same time? The curve/line which also doubles as the full employment supply line is.
In this 21st century, effective corporate governance is seemingly based upon a core set of ethical principles that guide a company’s actions, from the establishment of its strategic direction, its place in the market, the raising of capital, and the ..
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