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Suppose that demand for good increases and, at the same time, supply of the good decreases. What would happen in the market for the good?
a. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.
b. Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.
c. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
q1. if one defines incremental cost as the change in total cost resulting from a decision and incremental revenue as
According to a Wall Street Journal article "MCI, in New Phone War Skirmish, Files Suit over AT&T Ad Claims," MCI was upset with AT&T over allegedly false claims that AT&T's service is cheaper than MCI's. Based on this data, estimate the equation for ..
The following demand function has been estimated for Fantasy Pinball machines: Qd = 3500- 40P + 17.5Px + 670U + 0.0090A + 6500N. Where P = monthly rental price of fantasy pinball machines, Px = Monthly rental price of old Chicago pinball machines. Th..
q. the biggest difference between microsoft and software retailers is the market structure in which they operate.
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If it is illegal to sell food stamps, what does your analysis indicate about the potential existence of a black market in food stamps? Indicate graphically an acceptable price that your consumer would accept for his food stamps, and that someone w..
During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the intention of dropping large quantities by airplane. Explain why might this have been an effective weapon.
The firm’s constant marginal cost of production is, c = 50. The firm may charge an access fee and per unit price (that the consumers can choose not to pay). What are the profit maximizing access fee and price?
What do you expect to happen to your sales. How would you answer parts a and b if you expected a 5 percent increase in income instead of a decrease.
Using the results obtained in part (b) and part (c), derive the monopolist's short-run profit-maximizing level of output.(e) Determine the price charged by the profit-maximizing monopolist and the amount of profit earned.
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
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