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Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. Explain the following situations graphically and in words (Draw and label side-by-side graphs for each).
a. EXPLAIN what happens in the short-run if customer’s incomes increases?
b. EXPLAIN the process by which this market returns to the long-run equilibrium
Suppose you are a manager at Bank of America and the Federal Reserve raises the required reserve ratio from 10 percent to 12 percent. What actions would you have to take? How would your actions and those of other bank manager’s end up affecting the m..
q1. explain the essential distinctions among the stages-of-growth theory of development the structural change models of
What supply curve of turkeys shifts leftward. Tthe demand curve for turkeys shifts leftward ?neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
The same size of word for data and instructions, what is the size of each data register. Elucidate what is the size of the instruction register of the computer in the fist question.
The postal service carrier works on Sunday delivering special high-priority letters. She can deliver 15 letters per hour. The hourly fixed costs (vehicle depreciation, insurance, etc.) equal $42, and the hourly variable costs
Use the Internet to learn more about what companies are doing to enhance employee creativity. Be specific when you make an entry in your search engine to avoid being deluged with a choice of Web sites far removed from your topic. In your search engin..
In the model for airline seat pricing, we studied the case of non-refundable tickets. What if the airline offers refundable business class tickets. You can buy a business class ticket and return it for a full refund if you do not fly.
Illustrate what is the minimum product price at which the firm will operate in the short-run. Elucidate how many workers should the firm employ to maximize profits.
Describe the concept of opportunity cost with example. What would be your opportunity cost of taking on-line classes to get a degree at your University as compared to taking classes at traditional day schools at your University?
Suppose that consumers decide to consume less (and therefore to save more) for any given amount of disposable income. Specifically, assume that consumer confidence (c0) falls. What will happen to output.
q.assume which wall-world and turbo are independently deciding whether to implement a new bar code technique. as
If we can get foreigners to give us real goods and services and talk them in to taking pieces of paper in return why should we want anything different?" Do you agree or disagree with this statement?
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