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Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply ? describe how the equilibrium price and equilibrium quanity changes.
Explain why do you think that whenever the government needs to raise their revenue they usually decide to increase the tax on items such as gas
Let's consider the effects of inflation in an economy composed of only two people: Bob, a bean farmer, and Rita, a rice farmer. Bob and Rita always consume equal amounts of rice and beans.
Colin faiths that the number of job offers he will get depends on the number of courses. He concludes from observation that the following figures are typical.
Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the same market will increase market power.
Describe how the indicator was created and its current value. What does this key indicator say about the current economic condition.
Estimate the linear trend in the data, and use it to forecast gasoline sales in the United States in each quarter of 1990.
Explain why would this be described as a Prisoner's Dilemma game.
Use the following information for a perfectly competitive firm and the profit-maximizing input-combination rule to identify how many workers firm will employ to maximize profits.
One person-day of labor produces: China 9 rice 3 computers India 4 rice 2 computers a) Does any country have an absolute advantage If so, which one b) For India, what is the resource (or opportunity) cost of rice (R) in terms of computers (C), and C ..
As we know that there are some people who cannot have children who want to adopt, and there are pregnant women who for various reasons want to put their babies up for adoption
A recent news story reported that OPEC is expected to decrease the supply of oil next summer. Summer is traditionally a time of increased demand for oil because of the many families driving and flying to vacation sites
Explain the process or mechanism underlying how a market-based economic system allocates scares resources. Identify how this process might differ from a centrally planned or command economy.
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