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1. Jack and Jill have decided to open a bakery together. For reasons nobody understands, Jack can bake as many as 20 pies or 10 cakes per day, but Jill can bake only as many as 15 pies or 9 cakes.
a. Which partner has the comparative advantage in cake baking? Explain.
b. Plot their combined PPC, including the number of cakes and pies at each of the three corners.
If amazon.com's revenue increased after it cut the price of books, dvds, and blu-rays what must be true about the price elasticity of demand for ordering these goods online?
compute the test statistic. at 95% confidence test to determine if the is a significant difference in the means of the 3 populations.
explain how many sodas will the consumer purchase in a typical month. Illustrate what is the elasticity of demand for soda.
Illustrate If G rises to 200 and T rises to 150. How much would the GDP change as a result.
John Adams wrote his wife that his office is the "most insignificant office that was the invention of man."
Microsoft wants to sell more copies the additional income from each additional copy it sells.
Illustrate when a cold snap hits florida, the proce of orange juice rises in supermarkets throughout the country
How will the unemployment rate during the current period compare with this economy's natural rate of unemployment? What will tend to happen to resource prices in the future?
Assume which winemakers in the state of Indiana petitioned the state government to tax wines imported from other states.
What supply curve of turkeys shifts leftward. Tthe demand curve for turkeys shifts leftward ?neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
The rate cut was made because European nations were growing very slowly or were in recession. What effect did the bank hope the action would have on the economy.
Give an example of a product you consume for which your marginal utility increases with the amount of your consumption
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