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a. Explain what do you mean by demand schedule and demand curve! How the two are correlated?
b. Also explain what do you supply schedule and supply curve! How the two are correlated?
c. Describe how the market is in equilibrium!
d. Draw a graph and explain how are the effects of the following changes on the equilibrium price and quantity:
(i) Scientist states that orange consumption reduces diabete risk, and simultaneously orange farmers utilize new fertilizer that can make orange trees to produce more oranges.
(ii) Technological advancement brings about a decline in the production cost of TV screen.
If the United States imports a specific product and exports a different product, what is the likely effect on the price of the product that the United States imports?
In a? study, a random sample of 20 adults rated the effectiveness of advertisements. Each adult rated an advertisement that lasted 30 or 60 seconds.
Two identical firms have access to a spring. Their marginal cost of bottling water from the spring is a constant 10¢ per bottle. The market demand for bottled spring water is P = 250−20Q, where P is the price (in cents per bottle) and Q is the quanti..
If there is a decline in unionisation in the economy which leads to a decrease in the number of signed wage contracts and a decrease in the length of a standard
Determine the present value of a benefit or cost for a particular year by multiplying the recurring value of the benefit or cost for that year by the Present Value Factor - Calculate the Net Present Value of All Benefits
Firm A makes and sells motor cycles. The total cost of each cycle is the sum of the costs of frames, assembly and engine. The firm produces its own engines according to the cost equation. Calculate the MC of producing an additional engine. Calculate ..
Which of the following must be true in an economy with a government but with no foreign trade?
Identify at least two Cisco platform solutions for an internal router processor topology at the distribution layer.
If the risk free rate of return is 5% and the expected return on the international market portfolio 14%, what is the firms WACC?
EverKleen Pool Services provides weekly swimming pool maintenance in Atlanta. Dozens of firms provide this service. The service is standardized; each company cleans the pool and maintains the proper levels of chemicals in the water. At what output le..
A local dentist read an article published by the American Dental Association estimating that the elasticity of demand for the representative dentist's services is -2.5. How much should the dentist mark up her price over marginal cost?
The price quantity relationship has been estimated for a new prostate cancer blood test: Q=4,000-20*P. Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging from $200 to $0
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