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Gasoline prices typically rise during the summer, a time of heavy tourist traffic. A “street talk” feature on a radio station sought tourist reaction to higher gasoline prices. Here was one response: “I don’t like ’em [the higher prices] much. I think the gas companies just use any excuse to jack up prices, and they’re doing it again now.” How does this tourist’s perspective differ from that of economists who use the model of demand and supply?
What is total cost of saving water. Illustrate what is marginal cost saving 1 meter cubic of water.
q. imagine a society that produces military goods and consumer goods which well call guns and butter.a. draw a
If the company were to build the bridge, illustrate what would be its profit-maximizing price. Would that be the efficient level of output.
Explain what you would rather maximize your total or marginal utility? How do you think you would determine when to stop consuming if you were at an all you can eat buffeted?
q.consider a market with a demand function q 20 - p currently there are ten firms operating. each firm has the
Illustrate what price should he charge each group if he needs to maximize revenue collected from ticket sales.
What is the minimum price at which the firm would be willing to supply a positive amount of output in the short run? Label this on your graph.
Explicate which among the policies is most effective and least effective for this nation.
q.assume which the economy is in a long-run equilibrium.a- draw a diagram to illustrate the state of the economy .be
Illustrate what is the difference among the Marxist also the Value Conflict approach to social problems
Describe why some long-run average cost curves are steeper on the downward side than others.
Total industry sales are $105 million. Top four firms account for sales of $10 million, 9 million, 8 million and $5 million, respectively. What are four firm concentration ratios.
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