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Q1. Predict what would happen to the equilibrium price of marijuana if it were legalized. Use demand & supply analysis to answer. Provide verbal and graphical explanation.
Q2. Which of the following refers to the process of dividing the total market into several groups with similar characteristics?
Q3. Analyze a situation in which both parties entering into a contract could benefit, economically or otherwise, from slightly ambiguous language contained in the contract. Provide specific examples to support your response.
Illustrate what is the marginal cost of the first worker. Based on your knowledge of marginal analysis, how many workers should you hire.
The chance of someone in the family getting sick over the relevant time period is 20%. What is the expected value of V over the vacation?
Illustrate what price also quantity would prevail after the imposition of the tax
What do you think will happen to the price of tablet computers? Please explain. Whom do you think will reap most of the benefits of any technological innovations in tablets in the next five years; buyers or sellers? Please explain.
Suppose a nation picks 1000 young adults at random to serve in the army. Illustrate what information do you need to determine the cost of using these people in the Army.
Suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. Illustrate what are the monopolist's profit-maximizing price and total output.
Demand curve facing a firm in a perfectly competitive market each firm is so small and re are so many firms that none can affect price.
A monopolistically competitive industry such as baked goods also a perfectly competitive industry like wheat farming are alike
Assume you have a production technology to can be characterized by a learning curve.
Describe the difference between Economic contraction and Economic expansion
Decide whether the demand for paint is elastic, unitary elastic or inelastic. Explain you're reasoning also interpret your results.
using IS-MP and PC graphs analyze the following scenario on the economy specifically, how and why will real output (GDP) be affected in the short run.
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