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What is the current annual inflation rate (based on the CPI-U)? Summarize the major reasons behind this figure. What is the most recent numerical value of the CPI-U? What exactly does that number mean?
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)
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
To best serve customers interested in buying cars over Internet, Smart Motors, hire Nora Jones to respond to customer inquiries.
Explain how will unskilled workers adapt to a workplace requiring more skilled workers and fewer unskilled workers.
The Hair Stylist, limited, has a monopoly in College Park market because of restrictive licensing requirements, and not because of superior operating efficiency.
Suppose that the supply and demand for oil. Starting from a point where supply and demand are in equilibrium, describe with use of a diagram how a global recession is likely to affect equilibrium value and quantity of oil bought & sold.
With a U.S. marginal propensity to consume, assumed at 1/2, what will happen to the following with the neoclassical model of national income if the Bush Tax Cuts expired
Using the midpoint formula, calculate the price elasticity of demand for the following problem: Calculate the income elasticity of demand using the general formula for elasticity:
Roi resources currently have an unused gold mine. Mine was shut down four years ago due to depressed price of gold. However ROI are considering re-opening the mine.
Calculate the predicted 2001 operating benifit for Con Agra and the percentage increase in operating profit.
For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
Your production line has recently been producing a serious defect. One of two possible processes, A and B, could be the culprit. From past experience you know that the probability that A is causing the problem is 0.8 but investigating A costs $100..
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