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1. If both demand decreases and supply increases then for sure
a. Prices will increase
b. Prices will decrease
c. Quantities will increase
d. Quantities will decrease
2. Which of the following will decrease the demand for chicken?
a. An increase in the price of red meats
b. A decrease in the price of red meats
c. An increase in the price of chicken
d. A decrease in the price of chicken
Consider a perfectly competitive market where demand is given by P=84.20-2.15Q and supply is given by P=12.78+1.20Q. Calculate the equilibrium quantity.
explain how much the minimum wage was, employers would still be more likely to pay it.
Elucidate each of the following statements using supply- and- demand diagrams. a. " When a cold snap hits Florida, the price of orange juice rises in supermarkets through-out the country."
The dollar that the United States pays to import chinese goods are left in banks in china. Will this strategy raise or lower the standard of living in the United states?Briefly explain. be sure to provide a definition of "standard of living " in your..
Suppose the market for milk. For each of the following events, state whether it affects supply or demand, which direction supply or demand shifts, the effect on price, and the effect on quantity.
Identify a job that you really like then identify a job that you disliked and wanted to quit. Assess both jobs in terms of the freedom you were given to make decisions.
When there are economies of scope between products, selling off an unprofitable subsidiary could lead to
q1. tom and jack are the only two local gas stations. although they have different constant marginal costs they both
M-Pesa in Kenya has significant network effects (it becomes more valuable to participate as the number of people grows that use it) across several sides or dimensions. Select the side/dimension that is least dependent on the network effects of the M-..
In "Kitchen Nightmares," Chef Gordon Ramsay visits struggling restaurants and gives the owners of the restaurant a number of recommendations intended to reverse the restaurant's prospects. Explain how the recommendation is an application of Economies..
q1. if capital is measured on the vertical axis and labor is measured on the horizontal axis the slope of an isoquant
Suppose that they are thinking of every specializing completely in the area in which they have a comparative advantage also then trading.
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