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Yesterday you were consuming 4 eggs and 2 strips of bacon. Today you are consuming 3 eggs and 3 strips of bacon. If you have the same taste what might have caused this change? Are you better or worse off?
What is a specific problem facing the United States Congress where would I be able to find articles information about problems in education.
Suppose you are able bodied and intelligent, but lazy. You would rather sit home and watch tv than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed b. Are you a discourage worker
Explain the relationship between the Magpie and the Eagle and explain what would be the effect of a 10% increase in the income of the target market have on the demand for the Magpie
What is the difference between substitutes and complements? Indicate two goods that are substitutes for each other. Indicate two goods that are complements.
Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.
Let the demand curve for a good be given by P=60-Q. Also, suppose that the marginal and average cost of producing the good is MC=AC=20. For this demand curve, MR=60-2Q. Find the competitive and monopoly quantities and price.
The two primary issues in international commerce are dumping and tariffs. Dumping is the international form of predatory pricing, prohibited by the WTO. Tariffs are taxes on imported goods, effectively increasing the price on these goods.
Again, assume that prices and wages in the economy adjust quickly so that all the markets in the economy are always in equilibrium. Suppose government expenditure increases. What is the impact of this shock on P (hint. Use the equation you solved ..
Describe what happens to the economy when interest rates are lowered and the economy is at near-full employment using (The Aggregate Demand-Aggregate Supply Model) The end of your discussion should state the final effects
The demand in each group is linear. Would the monopolist discriminate (charge different prices to the two groups) if the slope of each inverse demand were the same, but vertical intercepts were different? What if vertical intercepts were the same ..
State the Law of Supply. Why do the supply curve slopes upward? State the Law of Demand. Why do the demand curve slopes downward? Explain why normal profit is an implicit cost (i.e., subtracted from accounting profits) in our definitionof economic tr..
Suppose that Marie’s marginal utility from consuming one more unit of bubble gum is 10 utils while her total utility from consuming one more unit of cake increases from 130 utils to 142 utils.
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