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Indicate how each of the following changes would influence the incentive of a decision maker to undertake the action described.
a. A reduction in the temperature from 80” to 50” on
b. A change in the meeting time of the introductory one’s decision to go swimming economics course from 11:00 A.M. to 7:30 A.M. on one’s decision to attend the lectures
c. A reduction in the number of exam questions that relate directly to the text on the student’s decision to read the text
d. An increase in the price of beef on one’s decision to buy steak
e. An increase in the rental rates of apartments on one’s decision to build additional rental housing units
What would happen to equilibrium GDP if the rate of investment increased to $250 from current $200 billion per year? If net exports go up by $20 billion what would happen to Equilibrium GDP?
Suppose a consumer's income is used on two goods, X and Y. The consumer's income is $200 and the prices of X AND y are $10 and $5 respectively.
Sally is planning opening her own new beauty salon. She anticipates the following expenses per year, Furniture: $20,000 Additionally, Sally is withdrawing $34,000
What are the characteristics of a Perfectly Competitive Market and what are the Characteristics of a Monopoly?
Assume that Country A has a population of 500,000 and only produces one good-cars. Country A produces 100,000 cars per year. The people in Country A purchase 90,000 cars, but there are not enough cars to fulfill all the demand. They decide to impo..
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
Identify any tasks that should be implemented for the program and explain how they would help with the planning of the substance abuse program. While the program is still in the planning stages.
Last Friday night, Rich went to a tavern to buy pizza and bottles of beer. He noticed that four pieces of pizza and two bottles of beer cost the same as two pieces of pizza and eight bottles of beer. What is the cost, in bottles of beer, of a slic..
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
Calculate the arc price elasticity implied by the initial response to Z-Best's price increase and calculate the effective price reduction resulting from the coupon promotion.
What happens to the indifference curves when a household's income is reduced and how does a budget constraint explain consumer choices when used in conjunction with indifference curves?
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
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