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In spite of significant price increases for gasoline in the last two years, the amount of gasoline consumed has not decreased a lot--does this mean that gasoline is an exception to the law of demand or is there some other reasonable explanation?
What are the benefits of the staggered movie times allowed by multiple screens? What is the benefit to a multiscreen theater of locating at a shopping mall?
Make a research on the elasticity of beef and eggs in regards to price changes and explain how do supply, demand, and price controls interact to affect equilibrium price of eggs?
Production is accompanied by significant spillover costs. The government produces valuable goods and services at a low cost. The cost of living is lower in the country than is typical in the world.
The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?
What is the consumption function and how is it related to the Marginal Propensity to Consume? 2. What is the multiplier? 3. What determines the position of the Long Run Aggregate Supply curve? 4. What is a supply shock? Give several examples.
Find the quantity of toothpaste that maximizes economic surplus. What is the relationship between this quantity and the market equilibrium quantity?
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss.
Is there too much or too little smoking? Explain why smoking bans on bars and restaurants do not efficient solve an externality problem.
how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
What does Munger mean by the phrase "the price does the leading"? 3. Munger suggests several challenges that arise from the habit of anthropomorphizing the market. These help to explain people's apparent preference for central planning. What three..
Given the following information for November 2010, calculate the amounts of M1 and M2 in November 2010. The amounts are in billions of dollars. Currency $..
In 2008 the Fed initiated a program called QE or quantitative easing to try and stimulate the economy. Using a fully labeled aggregate demand and supply graph, show what the objective of this program was. Explain what the new equilibrium point mea..
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