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The law of demand implies that when the price of a good rises, people buy less of it. This makes the demand curve slope monotonically downwards. A textbook exception is the so-called Giffen good that by definition behaves in the opposite way.
But take a stock on the rise; might there not at least be one tendency for people to buy more of it under some circumstances, because it looks promising, in spite of any opposite tendencies? Is or isn't this another case where a demand curve may slope upwards?
Explain in words and in diagrams how a tax on high-skilled labor burdens low- skilled workers. Which of the following taxes do you think would cause the larger excess burden? In one or two sentences explain why?
Seven years ago a New Brunswick logging company purchased a used wood chipper for $141,600 for biomass and custom chipping. Operating and maintenance costs averaged $4,100 per year. A complete overhaul at the end of year 4 cost additional $12,000. An..
Describe the determinants of varying levels of income. What factors determine a wages of a person
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, illustrate what two policies could you use to reduce the total amount of emissions.
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantages were used in your simulation.
You expect to receive a payment of $200 one year from now. Your discount rate is 5%. What is the present value of the payment to be received? Suppose that your discount rate rises to 6%. What is the present value of the payment to be received?
q. suppose there are two consumers a and b. the utility functions of each consumer are given byuaxy xyubx y 2x ythe
A descriptive essay on “is there a "free-rider" problem associated with public goods and services? How does government address this free-rider problem? What are the necessary ingredients for a nation to experience greater rates of economic growth, hi..
Given the costs of production and market-structure characteristics, analyze how the dem functions under (a) perfect completion and (b) imperfect competition. They will each drive a different approach for maximizing profit and allocation of resources.
illustrate what can you determine about the market for wheat.
Ann owns a lawn mowing company. She has 240 lawns she needs to cut each week. Her weekly revenue from these 240 lawns is $8,400. If given an 18-inch deck push mower, a laborer can cut each lawn in two hours. If given a 60-inch deck riding mower, a la..
q1. a monopoly firm is currently earning positive economic profit. the owner of the firm makes a decision to wholesale
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