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Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity. Identify the determinant of demand or supply that causes the shift.
(a) Blue jeans. The wearing of blue jeans becomes less fashionable among consumers.
(b) Computers. Parts for making computers fall in price because of improvements in technology.
(c) Corn. Increase production of ethanol.
(d) Chicken. Beef prices rise because severe winter weather reduces cattle herds.
How would you value the goodwill that is obtained in this way? Think about an example that pertains to you. If there is expected goodwill would you be prepared to bid lower to get a contract?
Your local government needs to increase tax revenue. To increase tax revenue it can either increase the property tax on residential property or increase the property tax on all property. The government wants to impose the smallest excess burden po..
What is the monopolist's profit-maximizing level of output and what price will the profit-maximizing monopolist charge?
Two months later, Mrs. Dodge split the workforce into two specialty groups, appointing Betty as the supervisor of one section and taking the other for herself. Betty's group consisted of three people: the two newest, whom she had trained, and one ..
What differentiates the company's products from its competitor's in terms of utility? What differentiates the company's products from its competitor's in terms of packaging, size, and availability?
Provide a brief overview of the job evaluation process, including the importance of compensable factors. Detail the compensable factors of a position you are familiar with and their impact on that position's salary, and you may want to reference.
Write the equation(s) for the new budget constraint
Identify and describe the four sources of unemployment and the four types of unemployment. For each type of unemployment, indicate if public policy can be used to reduce the incidence of that kind of unemployment, and if so, indicate what policies..
The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.
Newbury Drug has recently offered to purchase 25,000 bottles of aspirin that they will sell in their stores under a generic label. Newbury has offered to pay $3.95 for each bottle of aspirin. The controller of Lydek in analyzing the offer has de..
A. What is market failure What are the major reasons that a free, unregulated market in medical care might not be optimal B. What assumptions of the perfectly competitive marketplace are violated in medical markets How does each affect equilibrium ..
The market price of the product the firm produces is $4 at each quantity supplied by the firm. What is the amount of labor that this profit-maximizing firm will hire,or what wage rate will it pay.
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