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Assume initially that the demand and supply for premium coffees (one-pound bags) are in equilibrium. Now assume Starbucks introduces the world to premium blends, and so demand rises substantially. Describe what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, what will happen to the price of premium coffee?
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
What subsidy is necessary to induce the monopolist to produce the socially optimal level of output?
Does it appear that widgets would be a luxury good or necessity IF they sol at the perfectly competitive equilibrium (which they don't), and why?
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
In a complex assembly operation, it is found that the learning curve rate is 70%. The standard time of 3 minutes per assembly is reached after the 110th unit. Find i. The time required for the very first unit.
If "excess profits" are taxed away, where will oil companies get the money to fund new exploration and development of oil properties? Does it matter if these price increases are demand or supply induced?
What is the marginal revenue for hiring a worker for the 1 st hour? For the 2 nd hour and determine how many hours Eva should extend her bakery's hours of operations.
Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:
If the firm uses a discount rate of 17.5 percent, what is the NPV on this project? what is the NPV of this investment?
The great philosopher Rogers once said that you need holding knowledge (H), folding knowledge (F), and economics knowledge
Research and evaluate sustainability economic and sustainable agriculture and evaluating a current or proposed government (local, state, national, international) policy and determining whether it is economically sound.
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
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