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The demand for massage therapists declined in the spring of 2007, but the starting wages paid to massage therapists was still the same at the end of 2007. This is an example of a
A) sticky price.
B) flexible price.
C) highly regulated market.
D) price control
Suppose there was a Bertrand duopoly. Each firm produces the product at constant average (and marginal) cost $10, and the demand for the product is given by Q = 5000 ? 100P If the Bertrand game is played in a single period, how much will each firm ch..
Find the future value one year from now of a $7,000 investment at a 3 percent annual compound interest rate. Also calculate the future value if the investment is made for two years
Say that the price of good X is Px =$1 ,the price of good Y is Py =$2 and income I=$18 .The marginal rate of substitution between X and Y (MRSyx) is constant at 3. Show the budget constraint and some representative indifference curves on a graph (rou..
Forecasting collect data using techniques of estimating demand functions in an attempt to forecast sales and prices.
For each of the following events, indicate whether the AD or the AS curve shifts. In brief describe the reasoning behind your choice.
How do I construct a composite index? Please show work so I can understand the concepts and apply them on my exams.
What are two arguments against productivity growth as an explanation of the large U.S. current account deficits.
develop a good regression model with x variables in the regression equation. be sure to complete each part and write
Before 1976, the airlines often denied boarding to passengers who were flying on urgent business in favour of passengers who were not in any particular hurry to reach their destinations. This would seem to be a cooperative failure.
Assume that the demand changes to QD = 600-2P and the supply function stays the same. Graph the new situation in Excel. Find the new equilibrium price and quantity, and show it on your graph.
the only goods you buy are apples and oranges. both apples and oranges sell for 1 per piece and your income is 10 a
A firm with a CD production function Q = 1.5K 0.5 L0.4 plans to produce 900 units of output per day. Assume the prices of labor and capital are $50 and $100 a day-What is the firm's least cost combination of factors for production of 900 units of o..
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