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Economic resources have a price above zero because...
A. there are no other uses for them.
B. they cannot be easily moved from place to place.
C. they are unlimited in supply.
D. they are relatively scarce.
E. otherwise they would not be able to satisfy human wants.
When the price of oranges increases from $1.00 per pound to $1.50 per pound, quantity demanded falls from 500 pounds to 400 pounds. Calculate the price elasticity of demand. Is the demand for oranges price elastic, inelastic, or unit elastic? Explain..
Imperfect competition is the norm, so healthcare markets cannot work. Analyze this comment and explain your answer. The existence of market failure does not signal what should be done in response.
In general, correcting income distribution data for taxes and transfer payments results in:
q.suppose that a banks customer deposits 4000 in her checking account. the required reserve ratio is 0.25. what are the
An economist has estimated the demand for cable television services in Eastern Pennsylvania, and has found the following elasticities: If the cable television company wants to increase revenues, it should increase price.
Given the following demand and cost conditions for a monopolistic medical practice, predict the proft-maximizing price and quantity of services utilized
In what type of merger wave is the U.S. economy currently situated? For what reasons are companies merging? What are the risks and benefits of these types of mergers?
Suppose you are a thirty-year-old worker choosing between an IRA, a ROTH IRA and aregular brokerage account. Your marginal federal tax rate is 15% now and 15% in retirement. Compare after-tax returns on all three forms of investment. Rank the investm..
Assume that the following data characterize the hypothetical economy of Trance: money supply = $180 billion; quantity of money demanded for transactions = $140 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, incr..
The short-run supply curve of a perfectly competitive firm is the rising portion of ___ above ___.
Explain why does a newspaper dispenser open to a stack of newspaper and essentially "trusts" a consumer to take just one copy.
Discuss the Social Security System, current status and future outlook. Be thorough and focus on the economic considerations. Cite at least 6 sources.
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