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Trevor consumes two goods: fruit (good x) and vegetables (good y). His demand for fruit is given by x(px,m)=.04m-4.24px. His income is $322, the price of fruit is $2, the price of vegetables is $1. If the price of vegetables rises to $3, calculate total change in quantity demanded, the substitution effect, and the income effect. Is fruit a normal or inferior good?
Assume that the country initially has no restrictions on trade also then imposes an import quota
Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm. Describe the busi..
Conduct an analysis of a recent article and provide your evaluation and outcome expectations in an articulate and informative paper that discusses: Identification of three to five macroeconomic indices. Definition and explanation of the indices, e.g...
______Companies that have flat organizations tend also to have
Explain the relationship between one's beliefs about whether the minimum jobs program presented in the chapter actually solves the unemployment problem and one's normative view of responsibility for unemployment.
what additional information would be useful in the pricing decision? What would be your recommendations for setting up a model to forecast future demand for this product?
A central bank that adopts a fixed exchange rate system may sacrifice its monetary autonomy in setting its domestic monetary policy.
Start with your factors of production on page 34 and then briefly describe whether these resources were allocated efficiently. Think about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. Are yo..
A competitive advantage furthermore earns a life span income of $6 million moreover the non-steroid user earns $1 million.
Elucidate how each of the following people would talk about scarcity and trade-offs. The President of the United States and the leader of a developing nation.
leave the equilibrium quantity of labor input and real GDP unchanged. lower the equilibrium quantity of labor input and real GDP.
U.S. is currently suffering from underemployment and excessive current account deficit. a) What measures can U.S. take to move away from its present situation towards internal and external balance? Consider rules of Bretton Woods and policy tools. b)..
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