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a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of demand and supply affect this product (T-I-P-E-N and P-R-E-S-T). What happens to the demand curve and the supply curve when any of these determinants change? Give examples of scenarios that would cause a change in demand versus a movement along the same demand curve and supply curve for this product. Discuss the new equilibrium price and quantity that result from these changes. Can you demonstrate some of these changes graphically?
If the manager of the open market desk hears that a snowstorm is about to strike New York City, making it difficult to present checks for payment there and so raising the float, what defensive open market operations will the manager undertake?
How does the picture of investment described in your textbook compare to that illustrated by the authors of this group of readings 2. Is there anything that can be done to make our credit system a source of growth and stability
when the government increases taxes to provide traditional public goods, such national security, there tends to be what. marginal external cost equals marginal private cost minus marginal social cost.
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
Sunrise Surf Shop is willing to produce 30 surfboards in the month if it can sell each board for $300. If it can receive $500 for each board, the shop is willing to manufacture 70 surfboards.
Obtain price elasticity of demand for good one. Obtain income elasticity of demand for good and find the amount of compensation needed for Hicks compensation
Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. Is the deadweight loss for this firm greater than or less than $60?
Environmental Protection Agency (EPA) regulations tend to go through many stages of review and approval before they are implemented. Not only do many regulators have to approve a new regulation, but comments and reviews from industry and conservat..
Some firms will lobby their legislative bodies to impose barriers to entry. Can anyone think of groups or firms that do this?
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
Differentiate the way Keynes and Friedman approach the economy. Determine the key differences and similarities?
Harriet tubman have felt like a different person after she crossed the border to a free state describe enslaved people were veiwed or treated by southerners and northerners.
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