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Discuss how each of the following will affect the price and quantity of equilibrium. To determine the new values, discuss how the supply and/or demand curves will shift in the following cases (if at all).
a. Income diminishes and the good is a normal good.
b. Minimum wage increases
Perform a White test for heteroskedasticity using auxiliary regression
Explain the median housing price in a community
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
Compare the path of economic growth using GDP, GDP growth, and GDP per capita. Compare the evolution of Agriculture and Manufacture as components of GDP.
Future economic glowth
How much total utility does the consumer receive
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?
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
Describe each of the subsequent using supply and demand diagrams.
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
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