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1. Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related
2. Explain how sellers' costs, producer surplus, and the supply curve are related.
Suppose that you are evaluating the market for Kellogg's cereal. The prices of Post and General Mills cereals increase. What will happen to Kellogg's cereals?
Share your thoughts on labor unions today. Do you have any personal or family experiences with unions? Do unions serve a valuable purpose in today's business world? Be specific about what costs and benefits you feel unions contribute today.
q. 1. what change in the federal funds rate would you recommend?2. how would your recommended change get
Illustrate what are the limitation of the equilibrium level of national income determined in Keynesian cross model.
Compute the short- run and long- run results, explain the changes in the price and in the number of firms.
Do you think that there is a “retirement problem” in the US, meaning that individuals and families are not saving enough for retirement? What three original pieces of evidence support your observations and conclusions (journal articles, studies, spec..
An economist has estimated the demand for cable television services in Eastern Pennsylvania, and has found the following elasticities: If the cable television company wants to increase revenues, it should increase price.
Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
What is the NPV break-even level of sales assuming a tax rate of 35%, a 10-year project life, and a discount rate of 12%? (Do not round intermediate calculations. Round your answer to the nearest whole number.)
Recently, the House of Representatives passed legislation to increase the minimum wage in the nation from $5.15 to $7.50. What are the pros and cons of this proposal? Provide an analysis based on the demand and supply of labor.
Representative consumers have the utility function U(C,Ls) = log(C) + log(1- Ls). Representative consumers have labor endowment of 1. So Ls must be less than 1. Write down the budget constraint of the representative consumer. Write down the maximizat..
Two alternative investment proposals are under consideration for a vacant owner by Urban Development Corporation. Plan A would require an immediate investment of $120,000 and first-year expenditure for property taxes, maintenance, and insurance of $4..
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