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1. Examine the basis for the trends in consumption patterns, as discussed in any article.
2. Consider the utility derived from the products mentioned in the article.
3. Explain what has occurred to change the demand for, or the supply of, the products, and market prices of those products.
What is the competitive equilibrium price per ride and what is the equilibrium number of rides per day? How many boats will there be in equilibrium? In this competitive market, what is the aggregate profit?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
What impact would this have on the Kitty Litter market and the individual Kitty Litter producer in the SR? In the LR? Carefully Explain.
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Estimate the demand function
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Explain how GDP would return to equilibrium if it was above or below equilibrium GDP. Whenever there is change in spending, there will be a change in real GDP. Explain why this is so.
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution and price elasticity of demand.
Describe an example of risk calculation found on the web and what risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
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