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Assume that the market for salad dressing is in equilibrium. Then the price of lettuce rises. What will happen?
a. The price of salad dressing will rise.
b. The supply of salad dressing will decrease.
c. The demand for salad dressing will decrease.
d. The quantity demanded of salad dressing will increase.
Elucidate and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
Illustrate what are the correesponding average tax rates in the regressive and progressive tax systems.
what should you do when the manager of a perfectly competitive firm whose short run cost is TC = 100 + 160Q + 3Q2. If the market price is $196.
Illustrate what is Gillette's advertising elasticity. Is Gillette's Demand more or less responsive to advertising than other firms in its peer group. Elucidate also Elucidate how all calculations.
Suppose a household's annual take-home pay in 1951 was $8,320. Elucidate what would be an equivalent home pay in 1982.
Explain what will happen in the countries to which the immigrants return to potential GDP, employment, and the real wage rate.
Discuss a real world example that could, or has already, caused a shift in either the AD (aggregate demand) or SRAS (short run aggregate supply) curves for the US economy, or some other country.
Without further use of Excel, illustrate what is the probability (in %) that a randomly selected orange will contain less than 4.2 ounces of juices?
Under the first plan he pays $0.25 per minute of connect time. Under the second plan, he pays a lump sum of $30 per month and only $0.10 per minute of connect time. Determine David's optimal consumption bundle and his choice between the two plans.
Illustrate what is the level of consumption at the equilibrium level of income.
Review the biographies of each of the seven members of the Board of Governors.
Illustrate what is the economic profit (or loss) of Texas Citrus Company in the short run. Do new orange growers enter the market in the long run.
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