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Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
[ Hint: the first sentence describes t he supply curve. Assume the demand curve is downward sloping.)
Explain how many cars does the United States export. Suppose a car costs $10,000 on the world market. How much, then, does a barrel of oil cost on the world market.
Elucidate the law of demand. Why does a demand curve slope downward. How is a market demand curve derived from individual demand curves.
question the table sets out the demand and supply schedules for chewing gum. a draw a graph of the market for chewing
Explain how will the market restrain economic freedom. Explain how will society produce goods and services at lowest cost.
Conclude which of these three countries would be the best choice also support your answer.
Consider an oligopolistic market with two firms. Each of them produces using a cost function then what is the value of that maximizes total consumer well-being?
q1. elucidate how higher saving leads to a higher standard of living. illustrate what might deter a policymaker from
Draw the real labor demand curve for each country.
As demand goes up, so does price. The decrease in production of other items decreases supply, and raises their price.
lean burgers drive through receives 20 customers in every ten minutes of business time between 1200 - 100 pm during
Explain how "discretionary fiscal policy" can be "countercyclical" and can be used to support aggregate demand. Us an AD/AS model to support your answer.
Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following p..
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