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Given ceteris paribus, if the demand for golden teapots increases in a market relative to the supply of golden teapots, a group of microeconomists who conclude that:
(A) the price of these teapots will fall is correct
(B) the price of these teapots will rise is correct
(C) the price of these teapots will rise is incorrect
(D) none of the above
Assume that candle wax is traded in a perfectly competitive market in which the demand curve captures buyer’s full willingness to pay while the supply curve reflects all production costs. Maximum willingness to pay exceeds minimum acceptable price:
Bianca took out a loan from the bank today for X. She plans to repay this loan by making payments of 2,700 dollars per month for a certain amount of time. If the interest rate on the loan is 0.47 percent per month, she makes her first payment of 2,70..
Providing handouts to the audience before a presentation is not advisable because
What does Beta (β) measure and reflect? Consider the following: A firm’s operations are 45% GREATER than an average firm in the market. Relevant government securities trade @ 3.7%; and the current average return on the market as a whole is 9.1%. What..
Analyze the macroeconomic factors that led to the 2007–2009 recession. use researched academic sources to support it. Show these references please. How were GDP, inflation, and unemployment affected during the recession, and how does the model show t..
Suppose that the comparative-cost ratios of two products—mangoes and sardines—are as follows in the hypothetical nations of Mangolia and Sardinia: Mangolia: 1 mango = 2 cans of sardines Sardinia: 1 mango = 4 cans of sardines In this scenario,
A firm has a production function (products of the whole year) given by q = 500 LK . Wage is $40,000 per year and capital rental rate is $90,000 per year. Find the best way to produce 6000 products in a year. What is the total cost to produce? b. Fin..
A firm's marginal product of labor is 4 and its marginal product of capital is 5. If the firm adds one unit of labor, but does not want its output quantity to change, the firm should use 0.8 fewer units of capital. The MRTS at the current output leve..
q. demand can be predicted with experimental data cross-section data or time-series data. in this case cross-section
What 3 items of important information does the income statement reveal about the financial performance of T-Mobile over the last three years?
Consider a homogeneous good market with the following market demand curve: Q = 8 − p, 0 ≤ p ≤ 8 = 0, p > 8. Two firms produce output at constant marginal cost which may be different. Derive the Nash equilibrium outcome and the profits of the two firm..
Latanya likes to talk on the telephone. We can represent her preferences with the utility function U(B, J) = 18B + 20J, where B and J are minutes of conversation per month with Bill and Jackie, respectively. If Latanya plans to use the phone for one ..
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