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What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant.
(a) an increase in the number of cars
(b) the economy moves into a recession
(c) an increase in the price of car insurance, taxes, maintenance
(d) consumer expectations of substantial price increases in gasoline
how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
Chamber of Commerce, and your colleague has written a position paper and asked you to proof read it. In that report, she concludes; "in 2009, the U.S. exports were $1.571 billion and imports were $1.946 billion, with a resulting trade deficit of $..
what you must give up to get something; what you are willing to give up to get it. the amount of money that you pay on the margin; the amount of money that you receive on the margin. what you are willing to give up to get it; what you must give up to..
Points on Demand Curve Price(Per ounce) Quantity (Ounces per show)Compute the price elasticity between point D to point E and G to H. Instructions: Enter your responses rounded to two decimal places. Do not include a minus sign Use the mid-po..
An increase in consumer incomes will lead to a rightward shift of the demand curve for plasma TVs and the price of automobiles were to increase substantially, the demand curve for gasoline would most likely
Calculate the unemployment and labour force participation rates in 2014 and in 2015 and what challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
Determine the price, income and cross price elasticity of demand and how would you characterize the demand for haddock?
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Rabi Abdullahi and other Nigerian children filed a suit in a U.S. federal district court against Pfizer, alleging a violation of a customary international law norm prohibiting involuntary medical experimentation on humans. Did Pfizer violate any e..
Give a numerical example to show that a monopolist's marinal revenue can be upward-slping over prt of its range
the manager of global opportunities for a U.S. manufacturer, who is considering expanding sales into Europe. Your market research has identified three potential market opportunities: England, France, and Germany.
What is the short-run effect on the exchange rate of an increase in domestic real GNP, given expectations about future exchange rates? i. Explain why exchange rate overshoots when money supply increases in the short run.
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