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Airline travel and train travel in Europe are substitute goods. Suppose the price of airline travel decreases.
Explain what happens to the demand curve for airline travel. The demand curve for airline travel would increase because
Explain what happens to the demand curve for train travel. (In your explanation, be sure and describe which one is a change in quantity demanded with movement along the demand curve and which one is a change in demand with a shift in the demand curve)
The United States has accrued a public debt of over $19 trillion over the course of its history, which is equivalent to slightly more than the annual nominal GDP of the nation. Come up with and explain at least two ideas in terms of how to reduce the..
Can we conclude that an individual participating in the program would be worse off if provided with a cash grant of $50 instead of the viagra?
What are the strengths and laws of a program like Bill Clinton’s (proposed) “Hope Scholarships,” in which students take out a loan and pay it back based on future income? (I.e. you take a loan out for $40,000 and promise to pay 10% of your salary for..
If you could not work because you were injured or ill, how much money would you need for living expenses? Making a list of all the things you have used to live your normal life today. Be sure to include things like food, clothes, transportation, cell..
What occurs when impact of change in tax structure? What limits ability of banks to make loans? Should an individual's investments be diversified? What is the relationship between unemployment and inflation?
Two ?rm’s produce soda: one with a constant MC=$1.00, and one with a constant MC=$0.50. Demand for soda is given by QD = 100 − .5P. For each of the following models of oligopoly competition below, Find the market price, market quantity, each individu..
Explain the key reasons why you classified the company as a monopoly, and state how the company operates relative to at least two (2) characteristics of that particular market.
Under what authority can Congress levy an income tax?
Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection.
What is the present worth of each of the given series of payments?
Elucidate how a firm's production function is related to its marginal product of labor, how a firm's marginal product of labor is related to the value of its marginal product.
The elasticity of demand for a firm’s product is -4 and its advertising elasticity of demand is 0.12. Determine the firm’s optimal advertising-to-sales ratio. If the firm’s revenues are $70,000, what is its profit-maximizing level of advertising?
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