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Suppose that the residents of Lusaka spend all of their income on banana, apple, and oranges. In 2008, they buy 100 bunches of banana for $200, 50 of apple for $75, and 500 oranges for $50. In 2009, they buy 75 bunches of banana for $225, 80 of apple for $120, and 500 oranges for $100. a. Calculate the price of each fruits in each year. b. Using 2008 as the base year, calculate the CPI for each year. c. What is the inflation rate in 2009?
the factors that cause shifts in supply and the importance of demand are examined.what is the law of supply and what
Country A has 2000 units of labor and can produce two goods, manufactures and food.
Comment on the statement. Do you agree with the speaker? Explain. Use a graph to illustrate the answer indicating the firm's short-run cost structure
justice and efficiency and government intervention in health care markets please respond to the followinga. speculate
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
What is total U.S. government revenue from the tariff and if trade opens up, what will be the quantity of U.S. imports?
Do you think internal labor markets enhance or detract from efficiency How might one argue that the realization of dynamic efficiency is more important that achieving static efficiency Do you agree
corn prices are up more than 60 over the last seven weeks as the worst drought in more than half a century blankets the
suppose that on the basis of a nations production curve an economy must sacrifice 10000 pizzas domestically to get the
Linda loves buying shoes and going out to dance. Her utility function for pairs of shoes, S, and the number of times she goes dancing per month, T, is U(S, T) = 2ST, so MUs=2T and MUT=2S
A monopolist has access to an industry with market demand P = 10 ? y where y is the firm’s quantity. Its cost function is C(y) = 2y. Decide the firm’s profit maximizing quantity. Show your outcome on a graph. What is the firm’s profit? Calculate the ..
Calculate the change in consumer’s surplus, change in producer’s surplus, tax revenue, and deadweight loss as a result of the policy change. Illustrate them on a graph.
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