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Environmental education activities seek to change consumers' behavior to be more environmentally friendly , even when price and income are constant.What in this model of consumer demand are the environmental educators trying to change ? (Hint; does environmental education change the budget constraint )suppose that an environmental educator encouraged people to reduce their electricity consumption in order to reduce greenhouse gas emission Draw s diagram showing how a consumer's chosen bundle might change if the education initiative were successful?
Explain what would happen in the market for chicken if the price of beef suddenly increased and remained high. Use supply and demand analysis in your answer and consider the elasticity of demand and the cross-price elasticity of demand.
A contry's currency will depreciate if its inflation rate is less than that of its trading partners.
Explain how do you go about drawing an indifference for such a utility function.
Acme is sole supplier of security systems in product market and sole employer of locksmiths in the labor market. The demand curve for security systems is given by P=100-Q.
Even before the metals and manufacturing companies, US railroads in the 19th century were M-form organizations based on geography. Why might a large railroad be better organized as M-form than U-form
Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving an additional p..
Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget change Does your answer depend on the marginal propensity to consume
In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs.
In a country with a market economy, the owners of firms (businesses) are, to use Gwartney, et. al.'s term, residual claimants. What are the implications of this particular characteristic of business owners? How do other citizens within the country..
Illustrate what effects could be taken, comprising monetary and-or fiscal policies
After her final exam this semester, Sylvia must drive from her school in Philadelphia to her home in upstate New York-What are Sylvia's expected .ne, expected wealth, and expected utility if she travels through PA?
The similar same set of price quantity combinations are utilized to compute the price elasticity of demand
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