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Q. Graphically prove or disprove the following statement. Explain your reasoning. After last year's strike, baseball has experienced a severe drop in attendance even though the owners have reduced ticket prices and have held special events. Similarly players have made themselves more available in the hopes of boosting attendance. So far nothing has worked. In economic terms the law of demand does not hold since attendance at the major league parks has dropped while at the same time ticket prices have fallen.
On the same day, the San Francisco Chronicle had an article with the headline "Sharp Drop in Bay Area Home Sales"
Compare the supply and demand conditions in both locations. How many people live in each place.
Suppose now the price of a cell phone minute falls to $.50 per minute. Show how this will change the budget line.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
What are the advantages and disadvantages of each method. What do you suppose led each company to make their choices.
Explain the essential distinctions among the stages-of-growth theory of development, the Structural change models of Lewis and Chenery.
What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials
Movies are distributed in a variety of forms, not just first run theatrical presentations. What other ways are movies distributed. What are the different price points.
In late 2006 and early 2007, orange crops in Florida were smaller than expected, and the crop in California was put in a deep freeze by an Arctic cold front.
Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market.
Applying the principles of the Keynesian model, what specific economic policies would you propose to accomplish these goals.
Explain how this new inflationary environment would affect the demand for money according to portfolio theories of money demand.
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