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1. Find a product (possibly a commodity) traded in the global market and examine how the price of the product has changed over the past 10 years. How have these price changes reflected the law of supply and demand? Be sure to discuss both movement along the supply/demand curve as well as shifts in the curves. (A graph in excel, as an attachment, would show understanding).
2. Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other. What is the effect on the economy production possibility curve (reflecting these two services) in both the short and long run if it shifts resources from dance clubs to education?
Describe each of the subsequent using supply and demand diagrams.
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
Output maximisation and cost minimisation
What will the economic impacts of maintaining lower CO 2 emissions in the aggregate for the Turkish economy?
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Demand and supply schedules
Assume that both the equilibrium price and quantity of golf clubs rise. Which of the following explanations would best explain this outcome?
Demand estimation and forecasting and income elasticity of demand
Why does rent control result in a shortage of rental units.
Law of Demand indicates that there is the inverse relationship between price and quantity, why does it matter which particular mix of price and quantity is selected?
Evaluate price elasticity of demand
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