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Assume that the demand for product X is represented by the following equation: QDX = 1000 – 10PX – 5PY + 2PZ Which of the products Y and Z is a substitute to X in consumption?
A material handling system was purchased 3 years ago for $120,537. Two years ago it required substantial upgrading at a cost of $14,340. It once again is requiring an upgrading cost of $24,925. Alternately, a new system can be purchased today at a co..
Identify each of the following taxes as being either progressive or regressive.
Movie theaters often charge different ticket prices for different times of shows; so is the movie theatre a monopoly that practices discrimination? What about the concession stand inside the theater?
Using the four scenarios, discuss each and choose periods when each scenario has occurred in the U. S. or other countries: a. higher interest rates, more capital invested b. lower interest rates, less capital invested c. lower interest rates, more ca..
Clarify what happened to the profit maximizing output rate when input costs were increased.
q. the tax reform act of 1986 contains a clause appropriating tax dollars for any taxpayer incorporated on september 7
In a one page synopsis explain the following statement - A monopolist can control the price or the quantity sold, but cannot control both
Sarah's preferences for consumption and leisure can be expressed as U ( C , L ) = ( C - 180 ) × ( L - 80 ) . This utility function implies that her marginal utility of leisure is C - 180 and her marginal utility of consumption is L - 80. What is her ..
By how much would GDP change as a result of each of the following changes? (a) A parent switches from buying pre-made ham and cheese sandwiches for a family dinner, which would have cost $20, to buying the raw ingredients, which cost only $6, and mak..
You are estimating a cross-section regression for a sample of 100 cities in the US in which you hope to explain expenditure on education as a function of the median income in the community, the number of school-age children, and the level of state an..
For decades the U.S. has been a major manufacturer of the World consumer goods. Nowadays, many items we buy from the United States are made in China. What are the economic implications of this practice to both countries?
An outright purchase of $20,000 now (a lump sum payment) can be traded for 24 equal payments of $941.47 per month, starting one month from now. What is the monthly interest rate that establishes equivalence between these two payment plans?
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