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Question: 1) A key skill in economics is the ability to use the theory of supply and demand to analyze specific markets. In this week's discussion, you get a chance to demonstrate your ability to analyze the effects of a "shock" to the market for the construction of new residential and commercial real estate. Make sure to support your idea with at least one source.
Scenario: Suppose that the U.S. government increases the tariff on imported steel. Will this affect the supply or the demand for new real estate? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of real estate? Explain your reasoning and include one credible source. If you are unable to develop a graph digitally, draw your graph by hand, take a picture, then upload it to your discussion post.
There are three consumers A, B and C. Consumer A is willing to pay 8-3F dollars for a unit of flowers for the public square, B is willing to pay 2-3F dollars.
your mathematics and economics professors have decide to give tests 2 day from For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject.
What factors account for the decline in private-sector unionism in the United States since the mid-1960s? What factors account for the rapid increase in public.
Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed to put out as many cans as they wish. The average household disposes of three cans of garbage per week under this plan.
The described excise tax is imposed on producers of whiskey: this implies that the suppliers in this market incur 100% of the tax nominally. In terms of economic incidence, what percentage of the tax is actually borne by suppliers
Which product experiences a larger change in price and which product experiences a larger change in quantity
In what way could this particular strategy be considered an improvement over the status quo, characterized by credit rationing and limited financial access?
If the firm is at an output level where the marginal revenue from selling an additional unit of output is greater than the marginal cost of producing.
Assignment: Elasticity and Its Application. Define the price elasticity of demand? What information does it provide? How is it calculated? Define the income elasticity of demand? What information does it provide? How is it calculated
1.What part does consumer confidence play in GDP? Research the term "animal spirits" and how it applies to business confidence. Can you give an example of consumer confidence in your life? 2.What part does the government play in economic growth? How ..
A manufacturer determines that the supply function for x units of a particular commodity is S(x)=In (x+2) and the corresponding demand function is D(x)=10+In(x-1).Find the demand price when the level of production is x=10units
A firm's current profits are $750,000. These profits are expected to grow indefinitely at a constant annual rate of 5 percent. If the firm's opportunity cost of funds is 8.5 percent, determine the value of the firm:
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