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How to draw a Supply-Demand graph for digital cameras
Over the last three years, as the result of decreasing prices for digital cameras, the price of developing traditional 35mm film has increased 5% annually. How would I go about graphing this impact on the market for 35mm cameras?
For a perfectly competitive firm the price is $2 per unit. At this price the firm is producing and selling 10,000 units. It costs $1.50 to produce the last unit. Should the firm produce more? Less? Why?
Assume that, from an initial consumer equilibrium position, the price of good X falls-explain how and why the consumer's relative consumption of two goods will change.
Elucidate what can you infer from this data about labor productivity growth in the US economy during the period.
Solve for the price and quantity that the monopolist would choose to maximize its profit under the more advanced technology. And also calculate the resulting profit.
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Economic theory and history explains that less developed countries that open their economies to international trade and capital flows will grow faster and reduce poverty.
Describe the core principle of the standard and whether or not you are in agreement with the proposed standard.
Be sure to describe the two step method used in FASB 52 and how highly inflationary economies
Draw a current budget constraint for an assumed single mother (net of child care costs) who loves leisure. Draw the new constraint. Discuss the likely effects on labor force participation and hours of work.
Why will resources specialize according to their comparative advantages. Explain why will this specialization increase production.
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are:
Elastic with respect to its own cost and whether Good Y is a substitute or a complement with respect to Good X.
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