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Given the initial demand and supply curves for prescription drugs and an equilibrium price and (3) questions ) quantity, select from the list below the ones that the direction of change will be to the right.
Which three will be at the right
Consumers become more enamored with the wonders of modern drugs.
Consumers become better educated about the dangers of taking excess drugs.
More consumers enter the market. (upward) The price of nonprescription drugs, which are substitutes, falls.
The price of bottled water, a complement, falls.
This graph plots the supply curve for the sellers (orange squares). You need to add the demand curve. Plot the buyer values by dragging points onto the graph (blue circles). Tool tip: For information on using the graph tool, click the Help button.
If the government removes a tax on a good, then the price paid by buyers will
What factors in economic segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the industry?
q.a new production technology for making vitamins is invented by a college professor who decides not to patent it. thus
During the most recent recession—the so-called Great Recession—the United States government increased the amount of time an individual was eligible for unemployment benefits from a maximum of 26 weeks to a maximum of 99 weeks. How is this likely to c..
Write the budget equation that Kingsley faces. Sketch the graph of Kingsley’s budget line for goods X and Y. Write the equation of the budget line in slope-intercept form. Identify the slope. Find the marginal utility for goods 1 and 2.Determine the ..
The impact of labor migration on patterns of international trade depends on the characteristics of the labor migrants. In which cases might migration expand trade? World income? In which cases might it reduce trade and world income?
You and your roommate are in a tough position. Both of you value a clean apartment at 100, and a dirty apartment at 30. The total cost of cleaning the apartment is 80. This means that, if you both clean the apartment, you both get a payoff of 60. Lay..
Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units every hour
A picture is worth a thousand words. We’ve heard that often but seldom consider the impact the visual media has on the written text. This is especially true in business messages and the projects you are working on creating for this course. As you des..
The batteries carry a 12-month guarantee. What percent of batteries will fail in less than 12 months?
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
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