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The Bureau of Labor Statistics reported the consumer price index as 211.4 in December 2007, and 231.1 in December 2012.
By what percentage did the index increase from the end of 2007 to the end of 2012 (rounded to one decimal place)?
Compare a collusive oligopoly market structure with perfect competition in terms of price, output, allocative efficiency and consumer and producer surplus. Support your analysis with economic theory and graphs.
Given the price of gasoline to be three dollars a gallon. Now show graphically what happens if we put a one dollar tax on gasoline. Please tell me how much for the tax the consumer pays and how much of the tax the seller pays.
Use diagram to describe how each of the following events affects the equilibrium price and quantity of pizza (draw a separate diagram for each event)
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed costs of $200.
1. consider the following discrete probability distribution function for the variable xx1012141618fx.02.7.05.2.03a is
At the same time dozens of low price producers started growing plants for sale. The net result was a decline in the average price of houseplants.
Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently-What is her optimal bundle?
Aaron Hank is a star hitter for the Bay City Baseball team. He is close to breaking the major league record for home runs hit during one season, and it is widely anticipated that in the next game he will break that record.
Jane quit her job at IBM where she earned $50,000 a year. She cashed in $50,000 in corporate bonds that earned 10% interest annually to buy a mini-bus. Jane has decided to buy the mini-bus and set up a commuter service between Lincoln and Omaha.
Part 1: Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year.
Allowing free trade between countries can be beneficial, but it also imposes costs. Use the ITT Tech Virtual Library to research costs and benefits of allowing free trade. Discuss aspects of international trade that some may consider unfair.
Illustrate what happened to employment during the rest of 2008. What are some of the alternatives to a tax cut that might have been used.
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