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1. Which of the following is an example of a change in the quantity demanded? (Hint. For which items is there a direct change in price that leads to a change in quantity demanded)
An increase in salary leads to increased spending on clothing.
A sale on shoes leads to higher purchases of shoes.
A rise in the price of peanut butter leads to higher demand for cheese sandwiches
An outbreak of e-coli in chicken leads to higher demand for beef.
2. Markets are more efficient when information is perfect; an example is:
Insider information on the release of a new block-buster drug
CARFAX reports that reveal the accident and repair history of a used car.
A fortune-tellers prediction of future interest rate movements
A readily available archive of historical weather reports
If the rate of inflation in consumer prices is less than the rate of increase in a person's nominal income, that person's:
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
q.a manufacturer of electronic products has just developed a handheld computer. following is the cost schedule for
What is the impact of each problem or risk on oil and gas companies and how to solve these problems ((the solution)) and what is the opportunities of each them? Rising emerging market demand. Price volatility and role of speculators.
The environmental protection agency of a county would like to preserve a piece of land as a wilderness area. The current owner has offered to lease the land to the county for 20 years in return for a lump-sum payment of $1.1 million, which would be p..
The supply and demand curves are: Qs = -800 + 15p and Qd = 3200 - 25p. Solve for the market equilibrium. Now suppose a tax of $20 per unit is imposed on consumers. What are the new equilibrium quantity, buyer's price and seller's price? What is tax r..
The Short Run total cost curve of a firm in a hypothetical market is given by. What is the shut down price? What is the break-even point of the firm? What is the equation for the firm’s short run supply schedule?
Fed's policies both in terms of the positive also negative consequences of such policies also in relation to the Keynesian also classical theories.
Explain the relationship between MR and MC at the profit-maximizing output. Also discuss the relationship between Price and Marginal Cost and price elasticity of demand. Is this level of output economically efficient?
Use the following information to answer the question: There are three firms in an economy: X, Y, and Z. Firm X buys $400 worth of goods from Firm Y, and $200 worth of goods from Firm Z to produce 250 units of output at $3 per unit. using the Value Ad..
Illustrate what is the maximum price of capital at which the firm will still make nonnegative profits.
Consider an investor with preferences given by the utility function U = E(r) – 0.5Aσ2 and there are two portfolios with the following characteristics: Suppose that the investor has a level of risk aversion of A = 2. Which portfolio should the investo..
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