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Evaluate how the following situations will affect the demand curve for ipods.
A. Income statistics show that income of 18-25 year old have increased by 10% over the last year.
B. Efforts of music artists wanting greater protection of their music result in more stringent enforcement of copyrights and the shutdown of numerous illegal downloading sites.
C. Believing that it has significant control of the market for portable digital music players, Apple decides to raise the price of ipods with the goal of increasing profits
D. The price of milk decreases
Current economic theory and their application or lack of application to contemporary economic problems
Using two graphs, show consumer surplus before and after government intervention.
Using an aggregate supply diagram and aggregate demand or model of the economy, graphically explain and discuss the short-run and long-run effects.
Future economic glowth
Draw a standard supply and demand diagram which shows the demand for new housing units that are purchased each month, and the supply of new units built and put on the market each month.
n a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production.
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
Write down the household's budget constraints for period 1 and 2 and identify the current account.
you must identify a franchise that is relatively new (less than 10 years old and fewer than 25 locations in Canada). You must then evaluate the attractiveness of the franchise for an identified location. The evaluation should include: Presentation ..
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
What are the profit-maximizing price and quantity? What will be the profits at these price and output levels?
What impact would this have on the Kitty Litter market and the individual Kitty Litter producer in the SR? In the LR? Carefully Explain.
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