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1a) Papayas and grapefruit are substitute goods. A drought in California destroyed a good portion of the grapefruit crop. Ceteris paribus, what will occur?
1b) Graphically present the pre and post drought equilibrium for the substitute goods presented in 1a.
1c) Papayas and grapefruit are substitute goods. What would happen to a complement good?
what impact will the unanticipated increase in money supply have on real interest rate real output and employment in
Calculate the number of moles of gas added to the container.
determine what fiscal policy measure has a more direct impact to the economy an increase in government spending or an
The government levies an excise tax of five cents per unit sold on sellers in a competitive industry. Supply and demand curves have some elasticity with respect to value.
According to Exhibitor Relations Co., in 2006 average movie ticket prices were $6.55 and attendance was 1.4 billion; in 2007 ticket prices were $6.88 and attendance was 1.41 billion.a. What happened to total revenue from 2006 to 2007?
Why do prices in monopolistic competitive markets remain above the prices that would exist in perfectly competitive markets even in the long run after entry has eliminated above normal profits?
During the debate over NAFTA, opponents argue that given the relative size of the two economies, the income gains resulting from the agreement would be smaller for the United States than for Mexico.
Historically accompanied eras of global economic expansion
A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of jeans is 60, and the marginal utility of T-shirts
Information about the company is readily available.
suppose the expectations theory of the term structure is correct. suppose that the current interest rate on a one-year
the world bank is currently advising newly industrialized countries on how to encourage growth and they have asked for
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