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1. A market is in equilibrium with equilibrium quantity Q* and equilibrium price P*. What happens to P* if there is an increase in supply? What happens to Q* if there is a decrease in supply and a decrease in demand?What happens to P* if there is an increase in demand followed by a decrease in supply followed by another increase in demand?
2. The following table shows part of the demand for tickets to a local sporting event:
3.Use a hypothetical example to illustrate whether you agree or disagree with the following statement, "Unemployment will go up more if the demand for labor is inelastic, because the demand for labor will decrease more when you have inelastic demand than if demand were elastic".Explain why, using hypothetical numbers to illustrate your case.
The Framers of the Constitution favored bicameralism because
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Should Mazda Electronics proceed with the low-cost ME2001, incorporating the new frame developed by Burton Plastics, Inc.? Explain, including a quantitative analysis.
In the Nice model of solar system formation
Do you think that the size of the group can influence the style of presentation? For example, do you feel like it is easier to deliver an impromptu presentation with a smaller group, so that the setting is more intimate?
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Discuss each of the film's "realities" in terms of materialism and idealism. For instance, according to your own interpretation, does the film depict one reality as material and the other as ideal?
Calculate the work done on the atmosphere. Does the reversibility approximation over-estimate or under-estimate the actual work? A detonation of 1 kg of TNT releases about 4.5 MJ of work. Calculate the equivilent mass of TNT that performs the same wo..
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