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In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008. During that time, the total quantity of gasoline purchased fell by 3%. Supplies of gasoline produced also decreased from one million barrels to 800,000 barrels.
Calculate the changes in consumer and producer surplus.
The following estimates have been obtained for the market demand for cereal In Q= 9.01- 0.68 In P+0.75In A-1.3M, where Q is the quantity of cereal, P is the price of cereal, A is the level of advertising and M is income.
Chris is renting a house, and it does not have a refrigerator. A refrigerator is worth $3 every day because Chris will eat out less. Chris has a discount rate of 18%. Refrigerators usually last 5 years. How much is Chris willing to spend on a refrige..
q.this is a drag-and-drop question. click on the curves below and drag them to a new location on the graph that will
Illustrate what effect does the current supply and currently demand have on this product.
Does this critical path make sense. Do your predecessors make sense. How accurate are your durations? What could be done to improve accuracy of your durations.
Illustrate what price should firm charge to realize targeted profit. Illustrate what would be its (cost-based) mark-up ratio.
Disability payments replace a higher fraction of the wages of low-wage workers than of high-wage workers.
Suppose you are told that price of Toyotas' has increased from last year as has the number bought and sold. Is this an exception of the law of demand, or has there been a change in demand or supply that could account for it.
q1. assume that mr. browns mpsmpc. if he makes an extra 1000 this year and this increase in his income does not change
the first automobiles were built in 1901, they were manufactured by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production.
If the seller cannot discriminate, but must charge the same price p1 = p2 = p to each group, what will be her profit-maximizing price? Which, if any, consumer group benefits from price discrimination?
suppose the social welfare benefit received by a typical family in country c was 5000 in these 3 years. Compute the real values of the social welfare benefit received by a typical family in these 3 years using constant (2006) price.
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