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What factors affect the fuel efficiency of cars?
1. To what extent would increased government involvement with regard to fuel efficiency affect the behavior of manufacturers?
2. To what extent would increased government involvement with regard to safety affect the behavior of manufacturers?
3. Does it seem like the government could work toward BOTH better fuel efficiency AND safer cars? Explain.
Assume that all banks in the banking system have a 10% reserve requirement. Further, assume that all banks in the banking system are fully loaned up both before and after Joe makes his deposit.
as tren dee apparels chief executive officer you decide to break into the competitive sweatshirt market. use the
Suppose initially that the demand supply for premium coffees is in equilibrium. Now suppose Starbucks introduces the world premium blends, demand increase substantially.
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
An economist for the widget company estimated following short term production function. Compute the AP and MP mathematically and identify the three stages.
Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she has just 15 hours per week that she can spend working at either the bookstore or at other potential jobs
Wages offered for a particular type of job are the same across the country. The labor market usually yields a range of wages rather than a unique equilibrium. Wages exhibit frequent and prompt changes in response to changes in market conditions.
How much should this firm produce now, and what price should they charge? Explain, calculating total profit or loss earned at this quantity.
You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and foregone wages) are gauged in dollars, but the benefits of the vacation are psychological. Compare the airfare and hotel costs of the vacation..
according to the law of demand if price increases quantity demanded of a good or service will decrease or vice versa.
In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroit’s city council is considering passing a law that would give investment tax credits to auto manufacturers.
As output increases a firm finds that its marginal cost of producing an additional unit is rising. From this information we know that
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