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1. Many products, such as golf clubs, are made with graphite-epoxy resins because it's strong and lightweight. If a new tchnology reduced the cost of producing graphite-exposy, then you'd expect ___ in the graphite epoxy golf club market.
a. both supply and demand to increase
b. supply to decrease
c. demand to decrease
d. supply to increase
e. demand to increase
2. What has been the biggest factor in the increased supply of computer chips over the past few years?
a. An increase in the quantity demand of computers.
b. An increase in the demand for Internet service
c. An increase in the quantity supplied of computers
d. An increase in the demand for computers
e. An increase in the supply of computers.
Quantity demanded is: A. the amount of a good or service that a buyer is able and willing to sell at a given price. B. the amount of a good or service that a buyer is able and willing to purchase at a given price. C. always equal to the equilibrium q..
Hurricane Katrina damaged a large portion of refining and pipeline capacity when it swept through the Gulf coast states in August 2005. As a result of this, many gasoline distributors were not able to maintain normal deliveries. the quantity demanded..
Dr. Dolittle decides to sell his current home and move to a larger home. He estimates that he can sell his current home for $100,000 and can buy a larger home for $175,000. He plans to use the entire $100,000 sale proceeds as a down payment on the ne..
Suppose demand and supply are given by Qd = 40 - P and Qs = 1.0P - 20. What are the equilibrium quantity and price in this market? Equilibrium quantity: Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude..
What costs are associated with imperfectly anticipated inflation? Discuss them carefully. Who loses, and who gains, when inflation is higher than we expect?
Saudi Arabia has a competitive advantage in the production of crude oil over the United States. Indonesia has a competitive advantage in the production of Nikes over the United States. Do you agree or disagree with these statements? Why? Explain the ..
Explain what happen if all workers and jobs were identical, there would be just one wage rate, assuming perfect information and costless mobility.
q. speedy growth of the nationwide debt alarmed various politicians as well as created pressure for restricting
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. Estimates suggest t..
Illustrate what are the main determinants of the amount of excess reserves held by banks. Illustrate what is the primary determinant of deposits and the money supply in the long-run.
Read the opening case on Boeing 787s, and research for the updated information on the Boeing 787s. Identify the pros and cons of assembling a plane with many different parts and manufacturers as Boeing did with the 787. Assess whether Boeing’s approa..
Suppose that in a week the price of Greek yogurt increases from $1.25/lb to $1.75/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,00 lbs to 150,000 lbs. What is the price of elasticity of supply for Greek yogurt?
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