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Assume that, from the initial consumer equilibrium position, price of good X falls while price of good Y remains the same. Using indifference curve analysis, describe how and why consumer's relative consumption of two goods will change.
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
Assuming you could not get the Pink ticket for free what is your (net) opportunity cost of your seeing Lady Gaga?
consider the following class of estimatorswsuba 1a1y11a2y21a3y31a4y4 where ai are the constants.a what restriction on
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
First, identify and describe the three basic questions that all economies must answer. Write a thorough paragraph for each of the three basic questions and be sure to explain how any of these questions relate to demand, scarcity, technology, the d..
a company is contemplating the purchase installation and operation of a cogeneration system to offset the cost of
Suppose a tax per unit output (per-unit tax) is imposed on the production of Q with the intent of making equal the market level of output and the socially efficient level. How high should that per-unit tax be? What is the gain in net social benefi..
1. a taxicab company maintained accurate records of the expenses for one of its automobiles from january 1 1996
E-Commerce to a certain extent are comprised of the same business models as traditional or brick and mortar businesses. One thing an entrepreneur must understand is how their business will earn money...ie a Revenue Model.
Are there any externalities associated with this good Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be..
assume the marginal product of labor is mpl 20 and the marginal product of capital is mpk 50. in addition the price
Starting from short-run equilibrium, the following occurs: personal income taxes rise and foreign real national income rises. What is the effect on the price level, Real GDP, and the unemployment rate in the short run
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