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The distinction between supply and the quantity supplies is best made by saying that supply is represented graphically by a curve and quantity supplied as a point on that curve. why?
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
This question is based on The Economist Magazine's Schools Brief: State and Market - which has its own module in Etudes
Suppose the government intends the tax to reduce the consumption of some goods for example, cigarette or chewing gum. Illustrate what will determine the effectiveness of the tax in reducing consumption
You are trying to determine how much your family needs to set aside for the four years you plan to attend college for your tuition. You expect your tuition to increase your sophomore year by 11%, 12% your junior year, and 9% your senior year. How muc..
A pipeline contractor can purchase a needed truck for $36,000. Its estimated life is 6 years, and it has no salvage value. Maintenance is estimated to be $2,200 per year. Operating expense is $60 per day. The contractor can hire a similar unit for $1..
The equilibrium quantity increase or decrease depends on Demand
Why do most countries use trade protection tools? Is there any theoretical justification to use trade protection tools? Explain why rich countries subsidize agricultural sector in their economies. Explain why rich countries subsidize high-tech firms ..
An office supply company has purchased a light-duty delivery truck for $15,000. It is anticipated that the purchase of the truck will increase the company’s revenue by $10,000 annually, while the associated operating expenses are expected to be $3,00..
TQM by Facts or Intuition Based either on your work experience or on the readings in this course or both, discuss the following: 1. What should prevail in a company, TQM by facts or intuitive decisions that are made without regard to facts? 2. What i..
Demand is given by : Qd=20-3P Supply is given by: Qs= 2 + 3p what is the cost to a government that sets a price floor of $4 in this market and then agrees to buy up any surplus that exists?
If offered the choice between a 10 percent increase in her hourly wage rate, which would Helga choose? Assume that she is free to choose her hours of work.
A company in the process industry produces a chemical compound that is sold to manufacturers for use in the production of certain plastic products. The plant that produces the compound employs approximately 300 people. Develop a list of six different..
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