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Prove that every weighted average of three numbers x1 < x2 < x3 (with strictly positive weights) is less than x3. Do this by giving letter labels to possible weights for these numbers and comparing the weighted average of x1, x2, x3 to x3. Prove that every weighted average of three numbers x1 < x2 < x3 (with strictly positive weights) is less than x3. Do this by giving letter labels to possible weights for these numbers and comparing the weighted average of x1, x2, x3 to x3.
Identify changes in market conditions and their effect on equilibrium price and quantity for the following events:
If he continued to work exactly as many hours as he did before the wage increase, how much more money would he have each day to spend on consumption?
Changes in the macroenvironment affect individual firms and industry through the microeconomic factors of demand, production, cost and profitability.
The university bookstores received 4 million euros from students in exchange for the books. Illustrate what is the total contribution to GDP from the above events.
Is the demand for this good price elastic or price inelastic? Justify your classification by talking about the determinants of elasticity as they apply to this product.
q.suppose the demand function for corn is qd10-2 and supply function is qs3p-5. the government is concerned that the
Choose on which market structure that these businesses fit - monopolistic competition, perfect competition, and oligopoly also monopoly.
Suppose a firm pollutes a stream that has a recreational value only when pollution is below a certain level. If transaction costs are low.
The cost of running the government program ( assuming no storage costs). Illustrate what is the total price of the program to consumers.
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
Now suppose that it costs $20 to migrate to the United States. Who will migrate to the United States? What has happened to the skill level of those who elect to migrate? What has happened to the average skill level in the home country? Why?
Total transactions deposits in the system are $100 billion. If the Federal Reserve wishes the money supply to increase by an additional $20 billion, the Federal Reserve could: How do I get that answer?
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