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Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.b) Now suppose that the carnival institutes an admission fee of $2 per hour and the circus institutes an admission fee of $4 per hour. You still have only 6 hours to kill, and you also have only $20 to spend (in other words $20 is your income) . Draw your NEW budget
Suppose a consumer is at an optimum, consuming 6 hamburgers a week at a price of $1.50 each and 10 donuts a week at 50 cents a donut.
As per to Global Insight, a Massachusetts economics consultancy, elucidate what will happen if oil prices remain in the range of $65 to $70 per barrel for a couple of more months.
The commercial banking industry in Canada is less competitive than the commercial banking industry in the united states
Calculate the cross-price elasticity of demand. Given the elasticity you calculated, did it make sense for supermarket to raise its price.
Elucidate which methods resulted in the most hits. Elucidate which methods resulted in few or no hits.
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
Graph the dynamically efficient market for two periods on one graph and graph the dynamically efficient market for each period on it's own graph. Suppose the government sets a price control equal to 20.
This statistic elucidates how that government antimonopoly strategy has been applied more harshly to the textile industry than to the automobile business.
Elucidate each of the following statements using supply- and- demand diagrams. a. " When a cold snap hits Florida, the price of orange juice rises in supermarkets through-out the country."
calculate the price elasticity of demand for each product and compare with your teammates' elasticities.
Elucidate the nature of competition in a marketplace which is characterized by a high barrier to entry and a significant product homogeneity.
Suppose price of Treasury bill falls to $925. Illustrate what is interest rate.
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