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The government in California is increasing minimum wage to $15 dollars and hour, will this cause a surplus or a shortage of workers (labor)? Make sure to include the appropriate Graph and who the potential winners and losers are, as well as provide alternative solutions. Make sure to graph!
A drought in Alberta and Saskatchewan has made grain, and therefore cattle feed, quite expensive. Many ranchers cannot afford to feed their cattle, and have sold much of their herd for slaughter. As it happens, the slaughter of beef cattle has coinci..
What would the equilibrium price and quantity be? How much profit is made in the industry and by each firm?
If the demand for a commodity is elastic, an increase in the price of the commodity. Assume the cross price elasticity of demand for products A and B is positive.
Describe how each of these activities affects government, households,and businesses. Describe the flow of resources from one entity to another for each activity.
Illustrate what variables or than cost appears or have biggest impact on demand for McDonald's products. How much influence does company have over se variables.
show the new quantity demanded at that price as we did in class. Also, show that the new total revenue will be greater than then old total revenue.
Will there be significant progress on the poverty front, because of an increase in GDP.
Contracting may not be preferable to vertical integration because of which of the following conditions: Complete contracting eliminates flexibility.
A Rand Corporation study of cocaine estimated the price elasticity of demand for this illegal drug. Given the price elasticity of demand estimate provided in this report, is the demand for cocaine considered to be elastic, inelastic or unit elastic?
What factors in technological segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Chris chooses between two goods, X and Y (see figure below). At first, the price of X is low and the price of Y is high (budget line B1). Chris tells you his best affordable combination of X and Y is at point A. Then the price of X rises, while the p..
Explain the Multiplier Effect. Try to explain it in some detail so that someone who did not know anything about economics would be able to gain a fundamental understanding of it. Use a visual aid to help the observer understand the concept. Should be..
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