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1. Show the changes in the demand for tourism as income of a tourist grows when tourism is perceived to be, (a)normal good, (b)superior good, and(c) inferior good.
2. Analyse the demand for tourism overtime using intertemporal analysis.
Many middle class and working class Americans objected to the rise of monopolies and trusts, although not always for the same reasons. Why did they believe that that these powerful big businesses were Europeanizing America? What kinds of solutions we..
q.in a particular monopoly the demand equation is given by yp 5p1. what is the price elasticity of demand?2. what is
The quantity of an input, such as machines or workers, which maximizes profit is the quantity for which
The marginal cost of a monopolist is given by MC (q ) = 2 + 2q while market demand is. What is the competitive market equilibrium? Find social cost of monopoly. What is the prot-maximizing level of output and price?
q. suppose a government has no debt and a balanced budget. suddenly it decides to spend 1 trillion while raising only
There is the long debate on the Frisch-Elasticity being the driver of unemployment over the business cycle. Women have a bigger elasticity than men, yet their employment fluctuates less over the business cycle.
Assume in the retail-trade industry, unionized workers earn 19.0% more than non-unionized workers do. Briefly explain how the “product market” effect may operate in this industry. If the product market effect were large, would that suggest that the 1..
Opponents of NAFTA point out that pollution is largely a free good in Mexico also that being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
Briefly explain in words how the “money multiplier” is supposed to work (i.e., how, under the “textbook view” of banking operations, a Fed purchase of Treasury securities is said to result in a multiplied expansion of the quantity of money in circula..
q1. dynamic rather than static demand and supply conditions are typically observed in markets of real world. hence
What information would a government needs to increase the probability that its industrial policy would promote long-term self-generated economic growth.
Which of the following would be considered a transfer payment by the government?
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