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Q1. During the late 1980's wool prices increased considerably due in part to increased demand by China and the former Soviet Union. From 1977 to 1988, the price of wool for the worsted clothing rose from $3.67 to $5.81 per pound. Expecting that wool prices would remain high, wool producers raised a lot more sheep. Did this result in a shift to the right in the supply curve for wool? Why or why not?
Q2. Newspaper and soft drink are priced almost the same around $1 per unit by vending machines. Given the same unit price (value), how come a newspaper vending machine can be opened easily (i.e. take as many as you want) but a Coke vending machine is tough to open (i.e. drop one can at a time)? Please analyze it by marginal analysis for optimization.
Ordinary least- squares method or the two- satge least squares method for estimating industry demand for rutabagas.
Illustrate what cost as well as quantity will result once the patent expires and competition emerges in this market.
Find the demand for L and R. Now assume that the price of right shoes increases. What will be the substitution eect from this price change? Explain.
Federal Reserve lowers the required reserve ratio from 0.10 to 0.05. How does this affect the simple money multiplier.
Conclude how fixed and variable costs should be adjusted to maximize profit and identify methods to reduce costs.
illustrate what would be the government spending multiplier. What would be the taxation multiplier.
What is wrong with claiming that changes in the distribution of income are associated with trade instead of the technological changes that the article discusses.
There is a direct relationship between a growing real GDP also rising pollution. Growth provides an economic environment favorable to education also self-fulfillment.
Why might consumers’ price elasticity for ice cream cones once they are in an ice cream store be .20 and their longer-term price elasticity be 1.2?
Congress cannot dictate how many workers industries hire at mandated wage. Given this fact, Illustrate what are effects of this law. Specifically, illustrate what happens to employment, output and total amount earned by workers.
Illustrate what is the unemployment rate. Karen sharpens knives in her spare time for extra income.
Prepare a Cash budget for the Quarter ending 30th September 2014 and prepare a schedule of cash receipts from debtors for the period ending 30th September 2014.
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