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Q. In a recent article, a researcher reported that he had found the demand curve for kerosene to be upward sloping.-as the price of kerosene rose the quantity demanded of kerosene increased. Illustrate what questions might you have for this researcher?
Q. Suppose the government wants to discourage consumption of some goods (such as cigarettes or liquor). Assess the effectiveness of specific taxes and the lump sum taxes (a pure reduction in income) in reducing consumption? Draw appropriate diagrams to show this.
Assume which winemakers in the state of Indiana petitioned the state government to tax wines imported from other states.
Why would consumers demand 0 minutes in the long run if the price was $.30 every minute.
The equilibrium price of coffee mugs rose sharply last month, but the equilibrium quantity was the same as ever.
Consider a small country that exports steel. Assume that a "pro-trade" government deicdes to subsidize the export of steel by paying
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
Decrease will have on the desired proportions of capital and labor used in producing the given level of output at minimum total cost.
Illustrate would be the effect on D' of decreasing the variable cost per unit by 25% if the fixed costs thereby increased by 10%.
Explain why this formulation of consumption may provide a more accurate description of consumption than the simple consumption function that depends only on current income.
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
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.
Illustrate for the 100 new homes will be within $10,000 of the population mean.
Which fiscal balance is likely to be influenced and Explain how by treating human capital investments the same as physical capital investments.
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