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The Price of Haircuts. The haircutting industry in your city uses a tiny fraction of the electricity, scissors, and commercial space available on the market. In addition, the industry employs only about 100 of the 50,000 people who could cut hair.
a. Draw a long-run supply curve for haircutting in your city.
b. Suppose the initial equilibrium price of haircuts is $12. Draw demand and supply graphs to show the short-run and long-run effects
A government is running a balanced budget. An election is approaching and the gov- ernment decides on a one-time, temporary massive tax cut that will cut tax revenue by $50 billion in one year; after the year is over, tax rates and tax revenue ret..
Suppose the Wal world and tarbo are independently deciding whether to implement a new bar code technology. It is less costly for thier suppliers to use one system and the following payoff matrix shows the profits per year for each company resultin..
did monetary policy contribute to the economic crisis of 2008?nbsp why or why not?nbsp how did monetary policy makers
Draw indifference curves representing an individual's preferences for income and household production. Are these indifference curves negatively or positively sloped? Explain why.
Suppose that there are two goods, X and Y. Find the Slustky equation in elasticities for the cross effect.
how would you convert nominal gdp into real gdp? what benefit would you get from this conversion? also for the list of
Compare and contrast the economies of two different historical regions
Business investment or government spending to cause GDP to reach a certain level then the amount of change in the several expenditure types needs to be the full amount of the GDP gap.
Review the World Trade Report 2012 from the WTO on trade and public policies (the executive summary is available for review as well) at the WTO Research and Analysis webpage. As you go through this resource, think about what the significance of bo..
jennifer trucking company operates a large rig transportation business in texas that transports locally grown
Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.
A measurement is considered to be satisfactory if it is within 5 ppm of the true concentration. Of the 50 measurements, 37 were satisfactory. What proportion of the sample measurements were satisfactory?
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