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Explain how the law of demand affected your purchase. Give specific examples of how the determinants of demand and supply affect this product (T-I-P-E-N and P-R-E-S-T). What happens to the demand curve and the supply curve when any of these determinants change? Give examples of scenarios that would cause a change in demand versus a movement along the same demand curve and supply curve for this product. Discuss the new equilibrium price and quantity that result from these changes. Can you demonstrate some of these changes graphically?
To what extent do you think normative economic analysis, as opposed to positive economic analysis, determines our country's economic public rule decisions made by the government?
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
The Wall Street Journal reported that recent law school graduates were having a very difficult time getting jobs in the legal profession. Many law schools said that ten to 20% of their graduates still had not found jobs.
What is opportunity cost and describe with the help of an example, why assumption of constant opportunity cost is very unrealistic and also calculate point elasticity of demand
Based on your understanding of frictional, cyclical, and structural unemployment, do you think that this high unemployment rate can be explained by frictional unemployment? Why or why not?
For which types of business organization is unlimited liability going to apply to - a sole proprietorship, a partnership or a corporation? Now explain out of those business organizations, for which one will unlimited liability be the greatest prob..
How much effort do the students exert in the Nash equilibrium of the game introduced by Amalia and what value for the cake induces the students to exert the efficient effort level
Discuss the effect (increase or decrease) of an increase in the tax rate, t, on the equilibrium income Y* using the effect of increasing t on the equilibrium solution.
A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals.
Derive the firm's supply curve, expressing quantity as a function of price. Determine the market supply curve if North Carolina Textiles is one of 1,000 competitors. Compute market supply per day at a market price of $47 per unit.
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Briefly explain how this will affect money supply over time and how, even without any intervention on the part of the government or the central bank, the economy would self adjust over the following few years.
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