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List the key nonprice determinants of demand and also explain exactly how each of these affects demand. List the key nonprice determinants supply and also explain exactly how each of these affects supply.
Should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted?
In the case of the car wash, suppose that the owner wants to segment his market in terms of the willingness to pay of her customers. She thinks that segmenting the market between car owners who would pay more than $12 per car cash wash and those who ..
An article in Business Week warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to “export its way out of trouble” by oversupplying everything from automobiles to semiconductors. E
The selling price of a house is $1,375,000. You have enough money for a 15% down payment with the balance authorized at 4% annual compounded monthly for 30 years. How much will the monthly payments be? How much interest will be paid over the term of ..
There is an intimate connection between politics and economics, and different systems of the two can only exist side-by-side in certain pairings. For instance, says Friedman, a society which is (economically) socialist cannot also be (politically) de..
Assume that the positions of the supply and demand curves have not changed over the past three months (this means there have been no shifts). Over the past three months, the price for motorcycles has steadily risen from $5000 to $8500. Also, assume t..
Explain the paradox of why new cars usually lose a large fraction of their market value the moment they are driven from the showroom. Identify the economic principle that explains this paradox.
Consider the recipient's perspective in the global impact of development versus relief aid. Suppose a fixed amount of aid b is given to each worker in a developing country and that donors commit to continue these aid flows indefinitely.
q.company xyz produces cellular phones brand greenberry at a yearly rate of 500000 units. its total fixed costs are 6
if they use a regulation should they allow for pollution permits? explain the benefits and detriments of each form of control. what would you recommend?
Suppose that the salary for a recent industrial engineering graduate is expected to increase by 12% per year from a base of $52,000 over the next five years. If the interest rate is taken to be 10% during the period, the present worth of the earnings..
Mary plans to attend college and to pay her own way. Mary's parents of course, want to help her out financially and are trying to decide how best to do it. They want to do whichever will please Mary the most. Using indifference curve analysis, help M..
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