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Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply ? describe how the equilibrium price and equilibrium quanity changes.
Why does your company not make any profits? Show graphically and explain and you convince the king that it is the patriotic duty of every citizen to eat more spam.
When an excise tax is imposed on a commodity in order to raise revenue for the government or in in order to raise the consumption of the good, then why are these goals in conflict with each other?
what happens in the market for oil and what happens in the market for sports utility vehicles as a result of the war.
Explain which bridges you would choose to attempt to use. (Assume you can put one foot on a bridge to see if it collapses before you attempt to cross.)
M is the monopolist selling goods G. M's cost function is c(y)=4y where y is total production of G. Some of M's potential customers are members and get the member magazine with coupons.
If the economy is at point C, what is the cost of one more automobile? One more rocket? Explain how the production possibilities curve reflects the law of increasing opportunities costs
An inflation shock is a disturbance to the usual behavior of inflation that shifts the IA line. A supply shock is a change in the natural rate of output. Graph the long and short run effects of a positive inflation shock and a negative supply shoc..
Briefly describe three factors that could shift the aggregate supply curve of the economy to the right. Briefly explain the difference between the deficit of the Federal government and the National debt of the United States.
Assume the economy starts at equilibrium and the mpc=.8. What would be the effect of the $500 increase in taxes (once all the rounds of the mulyiplier process are complete) in relation to equilibrium output?
Employ the following information on hypothetical short-run production function to answer questions a-d. Compute the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically.
Write down the differences between absorption and variable costing techniques on income statement presentation.
If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..
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