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Which of the following would cause a change in supply, as opposed to a change in quantity supplied, in the market for used homes? 1. an increase in the number of buyers in the market for used homes 2. An increase in the income of home buyers. 3. A decrease in the price of used home 4. A decrease in the price of rental housing
indicate for each price whether the firm will produce, shut down, or be indifferent between the two in the short run, and whether it will make a profit, suffer a loss, or break even.
Assume that the market for salad dressing is in equilibrium. What will happen to the price of lettuce rises.
Select an industry with which you are familiar and determine which of the trade regulations impacts that organization the most. Support your response with specific examples.
Explain what types of biases arise in the different approaches to understanding consumer demand and behavior.
Compute the elasticity of demand when the price of a deluxe cheeseburger raises $2.50 to $3.00 which causes sales to fall from 175 deluxe cheeseburgers each day to 125 deluxe cheeseburgers each day.
Illustrate what would be the opportunity cost of x had the economy efficiently produced 10 units of y? Can the economy efficiently produce these quantities.
Why is it important to know Elucidate how much output is being produced
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day
Foley’s advertising agency presents three social media options. For each of the social media options (Zwinktopia, Facebook, and YouTube) analyze the influence of these four different measures:
Considering companies operate in their own self interest, should cartels be legal.
Explain how the MAS have successfully used exchange rate policy to achieve price stability for the last two decades.
If a country desires to have stable prices (or low inflation), why not simply pass a law that prohibits firms from changing prices? Elucidate pros and cons associated with this case.
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