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Question: Using the cigconsump dataset, generate a list of the stated correspondent to the far western states: Washington, Oregon. California Nevada, Utah Idaho, and variable, and create a new string variable, state, that contains the full name of the state save the dataset as cigconsumpw.
What would happen to the short-run equilibrium price and quantity of magnesium if a major (economically large) magnesium mine had to close due to environmental regulation? Assume the supply is elastic and demand is inelastic.
What is the maximum amount you would pay for an asset that generates an income of $250,000 at the end of each of five years if the opportunity cost of using funds is 8%?
Consider a small open economy with desired national saving of S = 20 + 200r* and desired investment of I = 30 - 200r*.a. Calculate national saving(S), investment(I), and the current account balance(NX or CA) in equilibrium when the real world interes..
The last lessons have spent a lot of time describing the slope and intercept terms (and their variances) of the one-variable sample regression function. We also know that for any particular value of the independent variable (call it X0), that the..
Market including marginal production, total production, and wage determination. These terms are important in determining how many workers will be hired by a firm.
If the country whose production possibilities curve is on the curve at the bottom and wishes to move to a position further up on the curve, it will: Find this impossible to achieve given the resources it currently possesses.
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
fiscal policy refers to the changes in governments choices regarding the overall level of government spending and taxes
Price discrimination is a pricing strategy whereby a firm's prices for the same or very similar goods vary for customers in different markets. This can help the firm attain more profits compared to charging a single price.
How will union mergers affect the market power of unions?
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
Various economic decision makers exist within an economic system. List and briefly discuss the various role players in the economy.There are four role players
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