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1. Examine the basis for the trends in consumption patterns, as discussed in any article.
2. Consider the utility derived from the products mentioned in the article.
3. Explain what has occurred to change the demand for, or the supply of, the products, and market prices of those products.
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
Use arc-approximation formula to compute the price-elasticity of demand coefficient of the firm's product demand between the (quantity, price) points of (100, $20) and (300, $10).
n a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production.
Assume the labor force decreases in size due to the large number of people reaching retirement age and subsequently entering retirement. At the same time real interest rates in the economy fall. What will happen in the economy?
You're in Management for IBX Steel Components. J. D. Brotsky is a top labor leader and just announced that her union will go on strike against management unless you grant the workers a significant pay raise.
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
Perform a White test for heteroskedasticity using auxiliary regression
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
Please refer to Citizen Gas Company PDF for case study and questions. The case study belongs to Economics. Citizen Gas Company is a medium sized company with customers from residential, commercial and industrial sectors.
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
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