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What are the variables (the items measured on the axes) in a graph of the a) consumption shedule and b) the saving schedule? Are the variables inversely (negatively) related or are they directly (positively) related? What is the fundamental reason that te levels of consummption and saving in the United States are each higher today than they were a decade ago?
Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?
Consider three consumer goods: 100 of Good A, 100 of Good B, and 100 of Good C. In the base year, Good A sold at a price of $1, Good B sold at a price of $1, and Good C sold at a price of $1. In the current year, Good A sold at a price of $3, Go..
Emil Flores won't buy any coffee except "Blue Mountain"--a relatively expensive type that few stores sell. He used to have to drive about 10 miles out of his way to buy it at a small shop--but now he has persuaded his local supermarket manager to ..
Both Viacom and Paramount owned a diverse group of entertainment business. QVC was a televised shopping channel. The Paramount board of directors accepted a merger offer from Viacom at a price of $69 per share. QVC and Viacom then entered a biddin..
Using regression analysis, find an equation that best fits the data to represent the TVC function and at what sales/output level will marginal costs (MC) reach a minimum?
network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users..
Mary Smith, a customer, buys the Best product to use in the demolition of her office building. Due to a defect in the product, John Doe, an employee of Mary's, is injured. He sues Mary Smith, Best and AI. Discuss the ramifications of this case if ..
A typical university football event need alumni to join one of many booster club before the person can buy season tickets.
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
Which of the following is a characteristic of both monopolistic competition and perfect competition?
The US treasury isn't the only issuer of bonds. Corporations also issue bonds that have future payment structures like U.S. Treasuries. Of course, unlike the federal government, corporations can go bankrupt, leaving their bondholders unable to col..
Is the market for coffee perfectly competitive and does the coffee market meet all six conditions of a perfectly competitive market?
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