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Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?
When the price of wheat rises from $2.34 to $2.46, some farmers switch crops, and the amount of barley offered on the market falls from 101 million bushels to 99 million. What is the cross elasticity of supply? When the wage rate rose from $6.25 per ..
What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Explain
The R&D and development costs for the new drug were $1.2B. Variable costs are estimated at $25 per pill and allocated fixed costs are estimated to be $8 million per year. For pricing let’s assume that the average channel margins based on retail price..
Suppose the government decides to increase taxes by $50billion and to increase transfer payments by $50 billion. Illustrate what effect would there be on aggregate demand.
Explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.
q.motorolas iridium a go-anywhere mobile phone system that beamed signals down from 66 satellites was called the 8th
explain the concept of diminishing marginal utility. since all goods are scarce, does diminishing marginal utility contradict the statement that individuals always want more of all foods?
The market demand for another product you are considering selling is Q(p) = 100 ? (1)p and as the 2. only producer of this product your production costs would be C(Q) = 40Q. You learn of a second firm wishing to enter this market. If you were to perf..
What is the dollar value of the deadweight loss when output level Q3 is produced? What is the total surplus when output level Q3 is produced?
What happens to the money supply if the Federal Reserve Bank increases interest rates at their next meeting in September? Make sure to include the appropriate equation. Make sure to include a money graph.
Suppose a consumer live two periods, in the first have an income m1 = 30 and in the second an income of m2 = 20. Suppose the interest rate is 10% and can borrow and lend at that interest rate. What is the maximum quantity he can consume in the first ..
Use short-run supply demand analysis to indicate how equilibrium price and quantity will change if the following changes occur in the economy. Draw a supply and demand curve for each answer and provide a brief one sentence explanation. Potatoes are a..
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