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When the market generates an equilibrium price, we know that
a. the quantity demanded is higher than the quantity demanded associated with a market that is not in equilibrium
b. excess demand and excess supply are zero
c. increases in quantity demanded are matched by increases in quantity supplied
d. it is the most profitable price for suppliers
Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of "last-minute" filers who mail their tax return during the last five days of the income tax period.
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
An Onyx Corporation design also manufactures a broad range of fluid handling also industrial products.
The variation attributable to factors other than the relationship between the independent variables and the explained variable in a regression analysis is represented by Question 19 options: regression sum of squares. total sum of squares. error sum ..
Explain why savings is unlikely to equal intended investment in the Keynesian model. Equilibrium GDP is $5000 while full employment is $6000. What kind of gap is this? What would the Keynesians say the government should do?
What factors in technological segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Suppose the production function for pasta is Q = 4kl. Does this cost function have increasing or decreasing returns to scale?
Identify at least four key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8.
Micro media offer computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micro media is currently planning a two-day seminar ..
Determine the returns to scale, that is, briefly show whether the following productions exhibit DRS, CRS or IRS.
Suppose there are 10 individuals who value a good at {$10, $9, $8, $7, $6, $5, $4, $3, $2, $1}. If the MC is $1.50, what is the optimal price? Calculate the number of units that are sold, total revenue and total profits. Calculate the optimal prices ..
(Comparative statics analysis in the Cournot Model) Assume two firms produce the same homogeneous good, facing the inverse demand function P(q1+q2) = k−q1−q2, where k > 1 is a positive constant, q1 is the quantity produced by firm 1 and q2 is the qua..
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