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Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous events?
a. Both the market clearing price and equilibrium quantity will rise.
b. The market clearing price will fall, but the equilibrium quantity may rise, fall, or stay the same.
c. The market clearing price may rise, fall, or stay the same, but the equilibrium quantity will increase.
d. The market clearing price will fall, but the equilibrium quantity will rise.
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
Assume the United States has the following consumption information: GDP = Income Consumption
A textile mill releases pollution into nearby wetlands, and the associated health and ecological damages are not considered in the private market. Suppose you observe the following
Suppose an advertising agency is conducting a survey concerning the effectiveness of commercials during the Super Bowl. If 32% of people watch the Super Bowl, and if the agency con
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For this question you will use the dataset "march01.dat", which includes wages (column 1), age (column 2), a dummy variable indicating females (column 3), and years of education (c
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
Shambles, a large toy retailer, are looking at bringing out a new range of soft toys. The range under consideration is "Mythical Beasts." The "Mythical Beasts" range will cost £50
In 1 to 2 sentences respond to the following comment. "Pollution restrictions will reduce gross domestic product and therefore hurt the economy."
We have been looking at just the Additional Marginal Opportunity Costs of our choices. What about the total cost? For example, we see and hear ads all the time about different cell
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