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What is the effect on the supply and demand of skateboards?
Each of the events described below will have some impact on the demand for skateboards. For each event, explain the effect of the event on supply and demand ("movement along" or "shift in").
(a) A drop in the price of skateboards.
(b) A drop in the price of kneepads.
(c) A decline in income.
Explain how the Environmental Protection Agencys policies impact business in the US.
Elucidate how each of the following changes would shift the aggregate demand curve.
Illustrate what price is required to maximize income but keep profits at a minimum of $300?
Utilizing the economists model of individual choice comparing the marginal costs and marginal benefits of a choice.
Explain how does the marginal price for a product like this differ from a product like automobiles. What relevance might there be to this difference.
Assume demand and supply conditions in the competitive market for unskilled labor are as follows.
Elucidate which project should be accepted if the required rate of return for the projects
Provide brief but theoretically sound explanation for each of the following.
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently.
The subsequent table gives total output or total product as a function of labor units used. Does the table indicate a situation of diminishing returns.
You are planning a short-run production function for your firm, and you have collected the following data on labour usage and output: Calculate estimates of total. Average, and marginal products when the firm employs 23 workers
Elucidate what could Coca Cola do to mitigate any undesirable effects of business cycles.
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