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1. Domino's pizza is willing is willing to pay Kes 250 in airtime to each person interviewed about his or likes and dislikes of types of pizza crust. Of the people interviewed, 220 liked a thin crust, 270 like a thick crust, 70 liked both and 50 did not like pizza at all. What was the total cost of this survey
2. Concerning the first 41 presidents of the United States we know the following facts: Eight held cabinet posts, 14 served as vice presidents, 15 served in the U.S. Senate, 2 served in cabinet posts and as Vice President, 4 served in cabinet posts and in the U.S. Senate, 6 served in the U.S. Senate and as Vice President, and 1 served in all three positions. How many presidents served in:
a. None of these 3 positions
b. Only in the U.S. Senate
c. At least one of the three positions
d. Exactly two positions
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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