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Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon? Your answer should have two parts--first state which curve shifts (either demand or supply) and in what direction (increase or decrease), and second explain which of the 5 demand or supply shifters is responsible for this shift. There is more than one correct answer to this question so feel free to focus on just one possibility.
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline to increase even ..
If you were macroeconomic policymaker, how do you balance the short-run trade off between inflation rate and unemployment rate? Explain. What is the historical relationship between rates of unemployment and inflation in the U.S. economy? What are the..
This year is expected to be a great one for selling walking shoes in Georgia. At very low prices, only the most efficient shoemakers are able to sell. There are two shoe producers that operate with the most cost-effective equipment and skilled person..
A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded by 3 percent. What is the cross price elasticity of demand? Are tablet devices and digital apps complements or substitutes?
A perfectly A Perfectly competitive firm has a MPL = 20-L. If P = $5 and w = $10/hr. What is the optimal quantity of labor demanded?
Using two-part pricing , what will be the entry (membership) fee? What will be the per-unit fee? Compute the profit earned from a typical consumer with two-part pricing. Hint: same as perfect price discrimination profit.
q.1. you must decide whether or not to introduce a new product. if you launch the fresh product your competitor will
Taxes on goods and services like alcohol, tobacco, and gambling winnings (and maybe someday sugary foods and marijuana) are levied to reduce consumption of such goods and to raise tax revenue (
Research the following types of organizations "Nonprofit, For-profit, Political and Government and International", identify key concerns for each and provide example of each type of organization: What are some issues that concern International Organi..
Can we say that the plant in country b is more efficient than the plant in country A? Discuss in terms of both technology and economic efficiency.
How might the firm deal with the problems that such a strategy poses?
Suppose that full-employment (and full-capacity) output in an economy is $200. If Ca is $150, lg is $50, Xn is -$10, and G is $30, what will be the macroeconomic result?
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