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Using a supply-demand diagram, show a labor market with a binding minimum wage. Now, use the diagram to show those who are helped by the minimum wage, and those who are hurt by the minimum wage.
Discuss one recent price change that you have noticed while visiting your local supermarket.
You are the general manager of the Red Dog mine, which is the sole operator in Alaska selling copper. You have a maximum of S =1,000 tons available to sell this year and next year, and the demand for copper will be constant at p = 1000-q each year, D..
If Automatic stabilizers change the federal budget balance by $70 billion for every 1 percent change in real GDP growth, what will happen to the federal budget balance if the economy falls into a recession of -3 percent from a growth path of +2 perce..
about the situations when a differentiation strategy is chosen? Provide specific real world examples.
Apple has chosen to have the components for the iPhone manufactured by more than 30 companies around the world, as opposed to producing everything itself. Address the three basic economic questions: How does this choice determine what, how, and for w..
What is natural monopoly and when we will have natural monopoly in the market? What types of industry are susceptible to have natural monopoly? What is "information asymmetry"?
Assume a per-unit tax of $2.00 is levied on the producers of Gadgets. Illustrate what is the after-tax market equilibrium price and quantity.
What are the characteristics of a PC firm? Using Hot Dogs, Graph the market and the individual supply, demand and costs for Hot dogs side by side. Make sure to include the S.R. and L.R profits.
What will happen to the equilibrium price and quantity of new cars if, simultaneously, the price of automobile insurance (a complement) increases and the price of steel decreases
q1. the abc corporation is contemplating purchasing a new computer system that would yield a before-tax return of 30.
Assume that the income elasticity of demand for tickets is +2.5. Also assume that the average household in the community makes $20,000 per year and that about 6000 tickets are sold per year. Now let the average household income go up to about $22,000..
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
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