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When there is no change in demand but decrease in supply, how about changes in equilibrium price and quantity, increase or decrease? When there is no change in supply but increase in demand, how about changes in equilibrium price and Quantity? Pleas use graphs to answer these questions.
Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elastici..
Rescission. Farrokh and Scheherezade sharabianlou agreed to buy a building owned by Berenstein Associates for $2 million. They deposited $ 115,000 toward the purchase. Before the deal closed, an environmental assessment of the property indicated the ..
Briefly state and justify your position on each of the following proposals: a) Women and minorities should be paid the same wage as white males, provided the work is comparable. b) The United States should close its boundaries to all immigration. c) ..
Given the increasing wealth disparity along with overall rising incomes we have seen in recent decades, how might "filling in" the coverage gap contribute.
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
Assume the U.S. currently grows 2.5 million tons of fresh winter fruit and that the resources absorbed in the production of this fruit could have produced 300,000 laptop computers. Therefore, the opportunity cost of producing 1 million ton of fresh w..
Let’s say that there are 25 firms in a (perfectly competitive) market each with an inverse short-run supply curve of P = 1.25q + 12.5. If the market demand curve equals Q= 750 - 30P, what is equilibrium price and quantity, and how much does each indi..
Monopolistically competitive firms are inefficient, so why do we allow so many to exist? Monopolistically competitive firms are numerous and prominent. So, what do we gain from them that compensates us for their inefficiency? explain please.
Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000 and her store made $130,000 in profits (not counting payment to her top manager). Assuming the ch..
q.the north american free trade agreement nafta was created 20 years ago to expand trade among canada u.s. as well as
Elucidate what other types of variables should be considered when determining what is reasonable in terms of maintenance expense.
If you had to create an instrument that measured the prosperity of a nation, Illustrate what would be the three most important aspects of the society you would include.
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