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Analyze how the law of demand applies to a recent purchase that you made. Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change in price affect your decision to purchase the item?
Assume that the demand curve is given by the following: p=100 and the supply curve is given by Q=p-25. If the government puts in place a tax of 10 that must be paid by the buyer the deadweight loss that results is equal to:
chris has an income of 90 per month at allocate between goods a and b. initially the price of a is 3 and the price of
If the government gave each recicient family a $7,000 check instead of enrolling them in the Medicaid program most of the families would spend that money to purchase health insurance.
Describe the industry and explain the general pattern of change of the particular market model and hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a "market economy."
question 1. harveys muffler offers a full refund to anyone who is not satisfied with the replacement of mufflers. the
Describe the difference between a diminishing marginal product of labor and a negative marginal product of labor. Why would a profit-maximizing firm always choose to operate where the marginal product of labor is decreasing (but not negative)?
Limited funding may lead scientists to research one topic instead of another.legislators may create new laws about the use of natural resources based on the recommendations of scientists.
What impact would you expect each of the following events to have on business cycles? Label each as a demand-side or supply-side shock. What economic policy changes might you expect in response to each of these events?
Determine the marginal cost for bottle of wine and what will be the reduction in number of crashes at that intersection achieved by the mayor?
Recall the best supervisor or boss ever worked for and the worst one you ever worked for . Compare these two people in terms of their management skills and ability to perform the four management functions.
Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. How might things change if the border were open, with no restrictions on immigration.
question 1.place your answers in the table provided at the end of the question1. use the following table to produce a
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