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What happens to equilibrium price and the equilibrium quantity of each good described in the situations described below? Illustrate your answers.
a. Sunnyvale is named the most liveable city in the United States. At the same time, the wage rates of homebuilders, electricians, and plumbers in Sunnyvale increase. Describe what happens to the new home market in Sunnyvale.
b. The price of airline fuel falls by 10 percent. At the same time, people’s incomes increase and they prefer to fly to their vacation destinations. Describe what happens to the market for airline travel.
c. Installation costs for small satellite TV dishes fall by 10 percent. At the same time, network owners increase the cost of programming packages shown via satellite TV dish systems. Describe what happens in the market for small satellite TV dishes.
"The cost of a bushel of wheat, which was $3.00 last month, is $3.70 today. The demand curve for wheat must have shifted rightward in last month and today." Discuss
Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity in a competitive market. Identify the determinant of demand or supply that causes the shift.
The demand for cigarettes is price inelastic, but not perfectly inelastic. The supply of cigarettes is elastic, but not perfectly elastic. If there were no price controls or other complicating regulations, what would a model of supply and demand ther..
Suppose a teenager is interested in buying a car that has a very good look. Draw the indifference curve for safety and look for this car, placing appearance on the horizontal axis.
Suppose that the central bank has increased the money supply such that there is additional $420651 in excess reserves. If the reserve ratio is 13 percent, what is the maximum the money supply could increase?
What additional programs did the Fed create and implement to facilitate its role as leader of last resort? What was the primary purpose of these new programs?
Explain how many seats should be protected for full-fare passengers.
Suppose that your marginal federal income tax rate is 30%, the sum of your marginal state and local tax rates is 5%, and the yield on thirty-year U.S. Treasury bonds is 10%. You would be indifferent between buying a thirty-year Treasury bond and buyi..
game theory suppose there are only two car companies ford amp chevrolet. ford believes that chevrolet will match any
Specifically describe how the size of the "float" (time it takes to clear a check from orignation through multiple banks) affects the money supply?
In the early 1980s, Michael Milken developed the low-grade bond (or junk bond) for corporate finance. Throughout the 1980s, these were used by firms to finance leveraged buyouts (purchasing a controlling interest in a company’s shares using money rai..
Suppose that Missing Link must pay a tax equal to 40% of its gross revenue. What is the optimal number of machines for the company.
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