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How does an increase in an excise tax on cars affect the supply of cars? A. More cars will be made. B. Fewer cars will be made. C. Supply will stay the same. D. Supply will increase.
Explain why are prices usually higher for goods or services in London as opposed to Newcastle, or New York as opposed to San Fran?
Explain the importance of price elasticity of aggregate demand. That is, what are the different welfare implications with respect to consumer surplus when aggregate demand is elastic compared to when aggregate demand is inelastic?
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
His strategy to acquire companies in different lines of business based on the requirement that each business in GE was to become the #1 or #2 competitors in the industry is touted as being particularly brilliant.
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill.
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
assuming that the fed judges inflation to be the most significant problem in the economy and that it wishes to employ all of its policy instruments except intrest on reserves, what should the fed do with its three policies.
Getrag expects its sales to raise 20 percent next year from its current level of $4.7 million. Getrag has current assets of $660,000, net fixed assets of 1.5 million dollar,
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
You have a utility function characterized by u(c)=c^(1/2). If you have just $5 before you play the game (so you have just enough to play), what will your expected utility be if you decide to play the game?
What information did you have or obtain that helped make your decision a well-informed one.there something you didn't know beforehand.
Becky really likes Macaroni Grill but can only afford to eat out 4 times a year.So calculate for restaurants the income elasticity of demand?
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