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The Price of Haircuts. The haircutting industry in your city uses a tiny fraction of the electricity, scissors, and commercial space available on the market. In addition, the industry employs only about 100 of the 50,000 people who could cut hair.
a. Draw a long-run supply curve for haircutting in your city.
b. Suppose the initial equilibrium price of haircuts is $12. Draw demand and supply graphs to show the short-run and long-run effects
A bank in a medium sized midwestern city, Firm X, currently charges $1 per transaction at its ATM's. To determine whether to raise price, the bank managers experimented with a number of higher prices(in 25-cen increments)
Begin a response to this statement with your assertion - Agree or Disagree - then provide reasoning to support your assertion.
A couple starts saving for their retirement by putting $1000 at the end of this year and increasing the savings by 5% each year. If the savings earn 6% annual interest, what would be the value of their savings at the end of 30 years?
Suppose a monopolist faces the following demand curve: P=596-6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. What is the monopolist's profit maximizing level of output What price will the profit maximizin..
What will happen to the price of the bond that pays $3 per year (Suppose that interest rates are 6% in the economy and a safe bond promises to pay $3 per year in interest forever. What do you think the price of the bond will be Why
Helen purchases a new Ford Focus. She negotiates a price of $18400, trades in her 1993 Contour for $1700, puts down an additional $1000, and borrows the remainder for 3 years at 6% interest. How large will her monthly payments be
You are the city engineer and are negotioating with a land developer. The developer wants water service to a new development and you report that service can be completed this year by city crews at a cost of $200,000
Suppose that businesses buy a total of $100 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest
What did the framers intend to ban with the 8th Amendment? How does that intent apply in today's society?
If a central bank buys government bonds, what happens to interest rates, aggregate demand, and GDP? What happens to these variables if it engages in contractionary monetary policy through open market operations?
When providing your response, be sure to tie in the key concepts gained in the course thus far. Simply providing a critique of your organization is not enough. You should critically analyze the current state of your organization, the overall leade..
suppose that a perfectly competitive firm faces a market price 10 per unit and at this price the upward-sloping portion
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