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Market research has revealed the following information about the market for chocolate bars: The demand schedule can be represented by the equation Qd = 1.600 - 300P. where Qd is the quantity demanded and P is the price. The supply schedule can be represented by the equations Qs = 1.400 + 700P, where Qs is the quantity supplied. Calculate the equilibrium price and quantity in the market for chocolate bars Draw a supply and demand diagram illustrating the equilibrium price and quantity.
Billy and Bob are both 50 years old and work at the same rm. Billy is a more able individual and presently earns $90,000/year; Bob earns $50,000/year. They have the opportunity to enroll in a job-training course for a one-time cost of $10,000. What i..
The allocation of promotional dollars between ‘pull’ (consumer promotions + media advertising) and ‘push’ varies drastically for many advertisers across countries. What are the factors behind these variations?
In 1992, thirst Bush administration was worried about a lingering recession. The administration announced that households would receive a reduction in their taxes for the year 1992. However, this was not accompanied by a reduction in tax rates, and t..
An investor is considering buying a 20-year corporate bond. The bond has a face value of $1,000 and pays 6% interest per year in two semi annual payments. To receive 8% interest, compounded semi annually, how much should be paid for the bond?
Do you find the most important aspect of our economy that needs to be fixed is the budget deficit?
The gains from specialization and trade are based on comparative advantage, which reflects the relative opportunity cost. When countries specialize in producing goods and services for which they have comparative advantages, total production in the gl..
Widgets R Us uses a variety of different items to produce their world-class widgets. For each item listed, place it in the appropriate bin according to whether it would generate an implicit or explicit cost for the firm.
Why has the share of healthcare output produced by hospitals fallen? Will this trend continue? Can you think of a policy or technology change that would further reduce hospital use? Can you think of a policy or technology change that would increase h..
q.pcc and cdw are two online retailers which compete in an internet market for digital cameras. their products are some
Write down a formula that describes the marginal product of labor in the short run as a function of the amount of labor used.
A firm that finds it extremely expensive to monitor the output of each worker will likely pay its workers
If the Fed wants an easier monetary policy, it might
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