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Neville has demand function q = .02m - 2p, where m is income and p is price. Income is $8,000 and he initially had to pay a price of $40 per bottle of claret. The price of claret rose to $80. The substitution effect of the price change is?
q1. explain why does production ultimately experience diminishing marginal returns to labor in the short run?q2. what
Elucidate why from an economic point of view towing a car illegally parked rather than just ticketing it provides a better incentive.
The most likely reason that oil prices spiked during 2007-2008 was because
Should GDP take into account environmental issues, distributional issues also health also welfare issues.
Which of the following will never be negative in economic theory?
Sophie knows nothing about any of this. Can Tasty Foods be convicted of a crime in se circumstances. Can Sophie be held personally liable.
The time series Xt is generated through the ARIMA model. Where B is the back-shift operator, and at is white noise.
Why are market structures so important? What policies make sense to you with regard to the U.S. wheat or corn markets? What about the automobile or airplane markets? Why do you (we hope!) choose different policies for each? What about new inventions,..
A representative firm with short-run total cost given by TC=50+2q+2q^2 operates in a competitive industry where the short-run market demand and supply curves are given by qd=1410-40p and qs=-390+20p. it's Short run profit maximizing level of output i..
There is a potential entrant, who needs to pay a sunk cost of f to enter in this market. Firms may produce any quantity that does not exceed its capacity.
The dividing line between the 1 percent and the 99 percent is an annual income of ______. (LO11)
How is an investor's choice of which security to purchase related to his degree of risk aversion?
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