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The market for sports performance drinks experienced a big shift in 2012 as sales of low-calorie sports drinks grew by over 25%. Many attributed this shift to greater use by women who wanted a sports drink without many calories. a. If a woman desires two containers of low-calorie sports drink as much as one container of high-calorie sports drink, what do her indifference curves (between low- and high-calories sports drinks) look like? b. Do they have the typical shape of indifference curves? Why or why not?
Suppose a consumer's level of satisfaction is given by AB2 and he/she has a total of $10 to spend on goods A and B. If the price of A is $1 and the price of B is $2, and assuming you can only purchase whole units (not fractional) of A and B, how many..
The following is a list of statements relating to the impact of free trade on wages and employment. Indicate whether the statement is true or false by dragging and dropping the appropriate term into the boxes provided. Free trade does not generally b..
Explain how does a decrease in foreign price levels affect domestic aggregate expenditures and demand. How is the aggregate supply curve different from the supply curve for a single good, like pizza.
The unintended consequences of raising minimum wage from $8 to $12 per hour will create more unskilled unemployment in the economy. True or False, explain. The unintended consequences of raising minimum wage from $8 to $12 per hour will create more u..
A college student has been looking for new tires. The student feels that the warranty period is a good estimate of the tire life and that a 10% interest rate is appropriate. Using an annual cash flow analysis, which tire should be purchased? Tire War..
Assuming 100 identical firms in the industry (further assume that factor prices remain the same) what quantities will the industry and each firm supply when the product’s price is $9? What if prices are below $5?
Discuss how the two cases in this chapter illustrate the major theme of this text: changes in the macro environment affect individual firms and industries.
Illustrate what is unusual about this market. Give an example of a good or service to might be characterized by this unusual market attribute.
Given the following model: Y = C + I + G + (X-M) Question 1 Suppose that: Autonomous Consumption = $500 MPC = 0.75 Taxes = $400 Investment = $500 Government Spending = $1200 Exports = $300 Imports = $500. Suppose that full employment GNP (FE Y) is = ..
Elucidate each of the following statements using supply- and- demand diagrams. a. " When a cold snap hits Florida, the price of orange juice rises in supermarkets through-out the country."
In spending all his income on beer and pizza, Fred finds that the marginal utility of the last pizza is currently 8, the marginal utility of the last bottle of beer is 4, and the price of a bottle of beer is $1.50. If Fred has maximized his utility, ..
1nbspbarriers to entry help maintain market power and earn positive economic profits.nbsp these factors apply to all
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