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How would a coffee bean shortage in South America impact the equilibrium price and quantity demanded of coffee? What would happen to the equilibrium price and quantity demanded of tea and the equilibrium price and quantity demanded of sugar?
Lady Gaga has come to you for advice. She has balances at three department stores as shown in the table below. The monthly interest rates vary between stores as shown. She wishes to pay off all three accounts by the end of three months. She will allo..
When comparing perfect competition and monopoly, a major assumption made is that
The city of Touristburg has implemented a lodging tax equal to 2% of gross revenue at local hotels. If you stay in a hotel that costs $250 per night for 3 nights, how much will you pay in lodging taxes? The city of Touristburg estimates the annual gr..
If as price decreases by 10 percent, total revenue increases by 5 percent, what is true about demand? In 2014, India substantially increased its import tariff on sugarcane. Which of the following would the model of supply and demand not predict?
Describe a Pigovian taxes. If Pigovian taxes are imposed in the presence of negative externalities then does this create a deadweight loss? Describe a real-world situation where a Pigovian tax will be applicable. Show using a diagram. What might be t..
is this the same quantity that the competitive market would have provided in equilibrium? What are the market forces leading to this quantity?
How much income gets you into the top quartile or quintile. Discuss the issues of regressive, proportional, and progressive taxation.
To maximize profit, the monopolist increases output: A firm with monopoly power is able to set a markup price that is: Typical evidence for the existence of market power would be market prices:
Linda inherited a sum of $50,000 from one or her great parents. She would like to invest in one of the following three possible investment opportunities for a period of 10 years. Choose the best one for her.
Suppose the civilian no institutionalized working age population is 35.9 million in Labor land, 4.6 million are working part time, and 15.71 million are working full time. Labor land used the Bureau of Labor Statistics (BLS) definitions for unemploym..
Suppose a bank discovers its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal funds market? Now assume the bank finds that its reserves will be substantially and permanent..
In a scene from the movie Manhattan Murder Mystery, Woody Allen and Diane Keaton are at a hockey game in Madison Square Garden. She is ob- viously not enjoying herself, but he tells her: “Remember our deal. You stay here with me for the entire hockey..
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