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Consider a consumer that only purchases two goods to maximize his/her satisfaction. He/she originally maximized his/her satisfaction, and suddenly his/her income decreased. Assume that good 1 is inferior and good 2 is normal. What are the implications? Please explain diagrammatically and intuitively.
Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related. Explain how sellers' costs, producer surplus, and the supply curve are related.
Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.25 using this exponential smoothing method, what is forecast for Whopper sandwich demand for Friday.
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An end-of-aisle price promotion changes the price elasticity of a good from -2 to -3. If the normal price is 10, what should the promotional price be?
The mandatory analysis comparing the percent of minorities and women in the community in each job category with the percent employed by a government contractor is known as:
Suppose the demand and supply curves for a good are given by: Find the equilibrium price and quantity. If the current price of the good is $100, what is the quantity demanded? What is the quantity supplied? How would you describe this situation? Equi..
A house costing $100,000 can be financed with two alternatives: A. $80,000, 15 yr, 11.5%, 1pt. B. $90,000, 20 yr, 12%, 2pts. If the house will be sold in 18 years, use the Incremental borrowing cost to find a. real cost of additional $10,000 loan pro..
q1. select two products or services with which you are familiar - one produced in the u.s. and the other produced in
What are the main advantages and disadvantages of the ethnocentric, polycentric, region-centric, and geocentric approaches to staffing policy? When is each approach appropriate? Be sure to relate the different global staffing approaches to strategy. ..
Abe, Betty and Charlie are the only three students in my graduate Public Finance class and I am trying to determine how many office hours to hold per week for this class. Since my office and blackboard are reasonably large, Suppose office hours don't..
Where necessary you will need to support the tax return using spread sheets, databases and internet information. In completing this activity you must show that you can apply statute, regulation and precedent to a client's circumstances, develop op..
Duopolists A and B face the following demand curves: QA = 100 - 2PA + 5PB and QB = 120 - 3PB + 4PA. If both firms have zero marginal cost, what are the profit-maximizing prices and quantities?
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