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The price of a dozen eggs was $1.50 in 2012.
a. In 2013, the price decreases to $1.47. What is the percentage change from 2012 to 2013?
b. Egg economists forecast that egg prices will rise 20% from 2012 to 2014. What is the anticipated price of eggs in 2014?
c. The price of an 18-pack of eggs is projected to be $2.40 in 2014. Suppose you’re writing some long-term egg contracts subject to the eventual 2014 market prices and you want to get the most eggs per dollar. Find and compare the eggs per dollar price for the dozen and 18-packs in 2014 given the projected prices.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope.
which of the following is the best explanation for the state's historic reliance on severance taxes on oil and gas production.
Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
What is the value of consumer surplus? What is the value of the deadweight loss created by this monopoly?
Illustrate what entity establishes a cost ceiling and does it require government sanction for violators. Will it result in a surplus or a shortage.
Derive the simple bid-rent function for a model with only firms. Illustrate what factors can cause the city to grow larger.
Suppose there is a permanent increase in a country's saving rate. This increase in the saving rate will cause:
You are manager of BlackSpot Computers, which competed directly with Condensed Computers to sell high-powered computers to businesses. Explain how will impact BlackSpot bottom line.
At what level must be a ceiling price imposed upon the monopolist's market to cause the monopolist to supply the efficient quantity supplied?
Suppose you were having lunch with your best friend who just enrolled in an economics class. He was complaining about Explain how irrelevant class was, commenting that he saw no useful purpose for economics.
Derive IS curve by one of standard methods used in Macroeconomics. Explain in writing to illustrate what market your derivation brings equilibrium and explain how it accomplishes this.
Why is monitoring and controlling the project cost important for the success of the project.
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