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How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years?
What alternatives do you have for buying gasoline? Could you change to zero consumption of gasoline in the short run? In the long run?
In the short run, when the price of gasoline increases, what happens to the income you have to spend on other goods?
Try to use concepts seen in this unit such as budget constraint, income and substitution effects, etc. in your answer.
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
Your firm sells a very popular children's game. As the manager, you have received information that another firm is thinking about introducing a similar game. You have the following facts:
Suppose a freeze in Florida destroys part of the Florida orange crop. a. Explain what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze.
suppose that two players are playing the following game.nbsp player 1 can choose either top or bottom and player 2 can
The profitability of the leading cola syrup manufacturers, PepsiCo and Coca Cola, and of the bottlers in the cola business is different. PepsiCo and Coca Cola enjoy 81 operating profit as a percentage of sales; bottlers experience only 15 operatin..
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force..
Why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises that operate from commercial buildings?
Describe the roles of financial institutions in the global economy and discuss how the financial services industry is likely to change over next decade.
In what respect is the economic decision to move across international borders an investment decision and what are the "twin" problems of the health care industry as viewed by society? How are they related?
part-1q1 externalities are third party consequence of some other action. they can be positive or negative externalities
Toys Corporation has estimated its demand and cost function what will be theprice and quantity if Toys would like maximize profits
In each case, do you think the household is better of f or worse off, or is the answer ambiguous? If ambiguous, what does the answer depend on?
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