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Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
Suppose the club did NOT charge a membership fee: explain how much money would the family spend on food? How much food would the family buy?
Ben bakes bread and Shawna knits sweaters. Ben and Shawna both like to eat bread and wear sweaters. In which of the following cases is it impossible for both Ben and Shawna to benefit from trade.
If the fluctuations in the economy's real growth rate from year to year are caused primarily by variations in the rate at which aggregate delivery increases
Can you offer another reason why the New Jersey dealer might not have wished to follow a no-haggling policy.
Heckscher Ohlin model with two goods (wheat and cloth) and two inputs (land and labor), suppose price of cloth rises by 10% and the price of wheat remains the same. Wheat is land intensive and cloth is labor intensive. the rise in the price of cl..
Which of the following terms describes a contract based on information that cannot be observed by courts or arbitrators?
question 1.1. demand for a company product is q400-0.5p and tc2000050q3qsquare total profit is maximized at output
one of your econ classmates is puzzled by how the wealth effect is a reason for not only the downward sloping nature of aggregate demand (AD) schedule, but also for shifts in the AD curve. Briefly offer an ezplaination that can resolve that dilems..
Find out equilibrium cost and quantity. Illustrate on your graph how a rise in cost of automobiles would affect gasoline market.
Determine how much money would be in a savings account that started with a deposit of $2000 in year 1 with each succeeding amount increasing by 10%/yr. Assume a 7 year period and an interest rate of 15%.
When transaction costs are low enough, efficient resource allocation will follow regardless of the particular assignment of property rights. When transaction costs are high enough, efficient resource allocation requires assigning property rights to t..
A movie monopolist sells to college students and other adults. The demand function for students is QdS = 800 100P and the demand function for other adults is QdA = 1800 100P. Marginal cost is $2 per ticket. What prices will the monopolist set when sh..
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