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The U.S. Postal Service is facing increased competition from firms providing overnight delivery of packages and letters. Additional competition has emerged because messages can be sent via computers. How does this competition affect the market demand on the post office? Substantiate your argument based on concepts related to the law of supply and demand
In 2008, the per capita consumption of coffee in the United States was reported to be 4.2 kg, or 9.24 pounds. Assume that the per capita consumption of coffee in the United States is approxi- mately distributed as a normal random variable
Information covering the most recent thirty days are given in the following table for the value per gallon of regular gasoline at a local station.
Calculate the quota's redistributive effect, consumption effect, protective effect, and revenue effect. Assuming that Venezuelan import companies organize as buyers and bargain favorably with competitive foreign exporters, what is the overall welfa..
An economy can be stimulated through printing more money. Determine the dangers of doing that? Inflation can be reduced by reducing the money supply.
In the 2012 fiscal year, $74.6 billion in food assistance was distributed to 47.7 million Americans through the Supplemental Nutrition Assistance Program (SNAP). This represents about 12.5% of the U.S. population and about $135 per person per mont..
China's central bank will raise its reserve ration requirement by a percentage point to a record 17.5 percent by June 25, stepping up a battle to contain lending growth. The increase will freeze up about 422 billion yuan of funds, equivalent to 9..
Suppose that Japanese auto producers voluntarily restrict their exports to the US significantly. (For example, imagine all US imports come from Japan and that the Japanese producers restrict exports to the US to half the free-trade level).
In Florida, the huge contraption turns and begins lumbering down the next row of juice-laden Valencia oranges. The operator watches his progress on two TV screens in his cab,
Assume the free trade market price of a car is $10,000. It contains $5000 worth of steel. The importing country imposes 25 percent tariff on car imports.
housing prices have decreased, many homeowners have lost their homes because they are unable to pay the increasing mortgage costs of their variable rate home loans, more houses came on the market, fewer people could qualify for a home loan because..
My income is $300 a month, the price of good X is $4, and value of good Y is also $4. Given these prices & income, I purchase 50 units of X and 25 units of Y.
Before one year Polish zloty was PLN 3.8000/USD. Since then the sloty has fallen 14 percent against the dollar. Price levels in the US have not changed, but Polish price has gone up 7 percent
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