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1. The demand curve is Qd=50-8P; The supply curve is Qs=-17.5 +10P
a) What is the equilibrium price and quantity?
b) What is the market outcome if the price $2.75? What do you expect to happen? Why?
C) What is the market outcome if the price is $4.25? What do you expect to happen? Why?
2. Assume initial equilibrium in the domestic automobile market. Using supply and demand analysis explain what will happen to both the equilibrium price and quantity if the following happens:
a) You hear on the news that a major technology breakthrough for producing automobiles has happened.
3. Assume initial equilibrium in the domestic automobile market. using supply and demand analysis explain what happen to both the equilibrium price and quantity if the following happens:
a) You hear on the news that the Japanese have increased the price of their cars (price of a substitute).
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Search the Internet for Mattel.com home page. Review the website and find out its Corporate Social Responsibility information with respect to the Product Safety. Review the site to learn regarding its viewpoints on product safety.
The Bretton Woods System - What it accomplished, what it ratified and how it failed
Hammered by the 2008 downturn, Americans have boosted the U.S. savings rate from zero to 5 percent in the past year. They have a long way to go to match China, however, where the current savings rate is in excess of 30 percent!" What is the most l..
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What ethical problems could this system create and does it matter whether the customers are individuals or businesses?
Approach an owner of a small company about getting data on a current problem or one the company encountered at some time in the past, to see whether you would reach the same decision as the owner did.
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