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The market price of cheeseburgers in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because a new type of grill allows restaurants to cook a cheeseburger in half the time. Other students attribute the decrease in the price of cheeseburgers to a recent decrease in college student enrollment
The National Safety Council (NSC) estimates that off-the-job accidents cost U.S. businesses almost $200 billion annually in lost productivity (National Safety Council, March 2006). Based on NSC estimates, companies with 50 employees are expected to a..
Shirley thinks that two 8-ounce cans of soda are exactly as good as one 16-ounce can of soda. Suppose that these are the only sizes of soda available to her and that she has $30 to spend on soda. Write down Shirley's demand functions for general pric..
She could also use her entire budget to buy 3 uglifruits and 8 breadfruits per day. The price of uglifruits is 8 yen each. How much is Natalie's income per day?
Which of the following shifts the short-run, but not the long-run, aggregate supply right?
After 8 years of use, the heavy truck engine overhaul equipment at Pete’s Truck Repair was evaluated for replacement. Pete’s accountant used an after-tax MARR of 8% per year, tk = 30%, and a current market value of $25,000 to determine AW = $2100. Th..
Think of another good that you have purchased recently Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how would this affect the quantity of the good that you consume? Is the ..
Suppose the government increases expenditures by 120 billion dollars while increasing taxes by 120 billion dollars, and mpc = 0.8. Assume that there is no crowing out, or acceleration effects. What is the combined effect of these changes on GDP? In o..
This is the last question dealing with Sante Bank, which has the following (partial) list of accounts on its balance sheet: Calculate Sante Bank's excess reserves.
A new health minister proposes to distribute an apple a day for free to every citizen. To be effective the legislation states that the free apples may not be traded or sold. Explain why this “no trade” policy would be inefficient.
A manufacturing is considering upgrading a piece of equipment. If a certain upgrade helps reduce operating costs by $750 per hour of use, and the upgraded equipment will be used on average 8 hours per day, what is the expected annual savings of upgra..
Globalization and global trade have led to increased competition in world markets and increased efficient allocation of scarce resources. Is it accurate to say that this is contributing to increased consumer surplus and reductions in inflationary pre..
Using relevant international marketing concepts? Critically analyse the claim that a glocalised marketing approach is the key to success for international companies
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