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Automobile Industry: Demand and Supply Changes
Most of us participate in the economy every day. As households, we can provide labor to firms or government in the input market and we are also consumers of goods and services in the product market. Think of a good that you have purchased in the last six months. If you haven't purchased any goods or services, you can think of some popular items. Find a recent article on that good or the firm that produces it.
Pick an article or good recently purchased, articulately and answer the following questions:
1. Briefly describe the article.
2. Did your demand for the good change? What are some factors that would cause a change in demand for this good? How does quantity demanded of this good change?
3. Give some examples of changes in supply in the context of your good. What would change the quantity supplied?
4. What would happen if the government intervened and lowered the maximum price that could be charged for this service or good. How would this change the output and price?
Give the utility function U(x, y) = (x-4) 1/2 (y-2)- 1/2 , what is the minimum income needed to ensure positive utility?
Elucidate how the following factors will influence India's ability to compete in a highly competitive, rapidly changing global market place.
The division of taxing also expenditure functions between various levels government.
Explain how the locations of each of the four curves graphed in question 7b would be altered if (1) total fixed cost had been $100 rather than $60, and (2) total variable cost had been $10 less at each level of output.
Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour
Your analyst tells you that he has estimated the following linear regression model of your company's long run technology:
Describe the US household is harmful to the economy with the use of AS-AD diagrams.
Illustrate what is the discount rate in the banking system and explain how the Fed manipulates this rate in order to achieve macroeconomic objectives.
Explain how would either decision change if the government imposed a 20 percent tax on earnings and interest income. Illustrate what would happen if the government exempted interest income.
Describe the following statement: "In competitive market the least-cost production methods are revealed by entry and exit, while in public utility regulation they're revealed by commission rate hearings. It is easier to fool commissi..
Illustrate what was the effect of these rate reductions on revenue flow into the federal treasury. What impact upon our economy from these individual tax rate reductions.
What is opportunity cost of producing a car in Canada? What is the opportunity cost of producing the tonne of wheat in Canada? Describe the relationship between the opportunity costs of two goods.
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