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State whether each of the following events will result in a movement along the demand curve for McDonald's Big Mac hamburgers or whether it will cause the curve to shift. If the demand curve shifts, indicate whether it will shift to the left or to the right and draw a graph to illustrate the shift.
a. The price of Burger King's Whopper hamburger declines.
b. McDonald's distributes coupons for $1.00 off the purchase of a Big Mac.
c. Because of a shortage of potatoes, the price of French fries increases.
d. KFC raises the price of a bucket of fried chicken.
e. The U.S. economy enters a period of rapid growth in incomes.
The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
News Analysis. Analyze a news from a global newspaper (Financial Times, Newsweek or a similar one), delivering a report that could be useful for your company to take a managerial decision.
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
You have been tasked by your boss to forecast what hours of work through your workers would be following a proposed increase. you have had a flexible policy of workers selecting their hours
What is the long-term equilibrium enrollment in the tuition reimbursement sub-program and which sub-program's long-term equilibrium would be more greatly affected?
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
Evaluate the impact of the proposal to cut prices and what is the optimal profit-maximizing markup suggested by economic theory?
Select 5-innovations associated with Industrial Revolution and five innovations from Technological Revolution. For each innovation, recognize the effects it had on individuals, societies, businesses, and politics.
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
Which of the following is NOT a condition for price discrimination? Different groups of consumers should be charged differing prices for the same product. The firm's demand curve should be downward sloping.
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