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US imports oil at the world price, $55 per barrel. The domestic supply curve in barrels per day is S = 2500000 + 250000P with P in dollars. Domestic demand curve is D = 70,000,000 - 500000P. Draw the US demand and supply curves for oil and indicate how much is imported in barrels of oil and its value per year.
The text noted that money performs three basic functions. Select one of these functions and describe the ways rapid inflation could undermine money's ability to perform the function you selected.
List and describe the firms in the Industry. Describe the product, production methods, scale of production, and sources for raw materials. What technologies are used?
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Explain how much does the total amount of deposits in the banking system increase? By how much does the money supply increase.
Despite being globally branded, Unilever still tweaked the Dove campaign from country to country. Elucidate why did it do this. What does this tell you about national differences in consumer behavior.
q1. the following represents the potential outcomes of your first salary negotiation after graduation assuming this is
Due to ever-accelerating technological growth, _________________ unemployment is on the rise worldwide.
Val-lok Industries manufactures miniature fittings and valves. The company bought a new machine with $8,000 to improve process efficiency. After 3 year useful life, it will be sold out for $2,500. Prepare a table showing the depreciation expense and ..
The market demand is P=100-1.5Q and marginal & average costs are constant at 10 (MC=AC=10) find the monopoly price and quantity. Find the perfect competition price and quantity. Calculate profit, social welfare (consumer and producer surpluses), and ..
Assume the market for fertilizer is perfectly competitive and is in equilibrium. Draw a graph for the Supply and Demand for fertilizer as well as a graph for the individual firm. A change in the weather causes an increase in demand for fertilizer. Dr..
Suppose the entire civilian labor force is 20,000 people and the number of unemployed is 2,000 people.
Elucidate how much of the tax is borne by consumers also Elucidate how much by producers. Illustrate what is the new CS also PS.
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