Reference no: EM131441618
1. In 2013, In and Out charged $6.50 for a hamburger and sold 3,000,000 of them. In 2016, although In and Out raised the price to $8.00, sales of his burgers rose to 4,000,000. Use the concepts of a shift in the demand curve versus a movement along the demand curve to explain why this increase in sales does not represent a violation of the law of demand. Provide examples and details that explain this occurrence.
2. As a result of the rapid growth of the Global economy since the early 2000's, world demand for oil has increased significantly. At the same time new technology has affected oil production and supply. Both events have had significant impacts on world oil prices. How would the simple supply and demand model apply to this case? Understand that oil prices have been both high and low over the last 10 years. Explain how these events have effected the global price of oil.
3. Imagine you are the Trump's economic advisor. He has asked you to develop a policy that can be addressed at the upcoming State of the Union Address. Trump believes in the Keynesian policy of AS/AD. Unfortunately you can't give him solid policy prescriptions based on that model because you do not know the positionon of the LAS curve. Explain why not knowing this creates a problem.
4. Assume that the marginal propensity to expend is 0.50 and therefore the multiplier is 2. According to the multiplier model, an increase in autonomous exports of 100 would raise the equilibrium level of income by 200. Explain how the multiplier process amplifies the initial shift in autonomous expenditures.
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Designing a multithreaded application
: A Sudoku puzzle uses a 9 × 9 grid in which each column and row, as well as each of the nine 3 × 3 subgrids, must contain all of the digits 1 • • • 9. This project consists of designing a multithreaded application that determines whether the solutio..
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Calculate closing stock price
: You have found the following stock quote for RJW Enterprises, Inc., in the financial pages of today's newspaper VOL NET 52-WEEK YLD LO STOCK (DIV) PE CLOSE CHG 47.97 92.13 RJW 2.20 2.5 19,657 49 Use the reported dividend.
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Equation for the average variable cost function
: 1. Given the estimated marginal cost function above, write the equation for the average variable cost function and the total variable cost function.
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Exploit the workers from developing countries
: The Multi-national corporations from the U.S. and other industrialized countries exploit the workers from developing countries. (Use theory of Heckscher-Ohlin model or comparative advantage to discuss this topic.)
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Concepts of a shift in the demand curve versus
: Use the concepts of a shift in the demand curve versus a movement along the demand curve to explain why this increase in sales does not represent a violation of the law of demand.
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Explain diversification
: Use the following table to answer the question. Boom Normal Recession 20% 40% 20% Probability $30 mil $20 mil $10 mil CF (Wegmans $20 mil $20 mil $20 mil CF (Firm A) $60 mil $40 mil $20 mil CF (Firm B) $15 mil $10 mil 5 mil CF (Firm C) $20 mil $10..
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What special issues might arise in such a group
: Under what circumstances might it be beneficial to design a group in which both children and their parents would participate? What special issues might arise in such a group, and how would you manage them?
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Effective measure of living standards
: 1. What economic factors are taken into account when measuring GDP? 2. What makes GDP an effective measure of living standards? 3. How might quality-of-life measures be determined and measured?
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Discuss the topic of interest surrounding race and ethnicity
: You will submit a research paper based on a topic of interest surrounding race and ethnicity, social change, or both. This Unit VIII research paper will be atleast five pages in length and consist of information from at least our peer-reviewed, sc..
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