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If the market for alcoholic beverages is in equilibrium, then the drinking age is reduced from 21 to 18 what will happen to the equilibrium price and quantity of alcoholic beverages.
Calculate the elasticity of demand for good X with respect to advertising on good X. Interpret your answer. Can you tell whether the firm is spending too much or too little on advertising?
what is the levelized cost of electricity per kW-hr and Which press should you purchase if 120,000 nondefective units per year are produced by each press and all units can be sold?
Assume that the Keynesian short run aggregate supply curve is applicable to a country's economy. Construct appropriate diagrams to assist in answering the following questions:
Explain why the productivity standard for the distribution of income entails rewarding people based on their contribution to societys total output. Why does the productivity standard typically fail to yield an equal distribution of income
Mr. Lopez keeps silent during the meeting. After meeting he talks with Mrs. Martinez about his diagnosis. He suggests they tell AAA that the problem is HP fault, and that HP will replace the defective equipment.
If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $3 per unit, how many bouquets per month should she sell in the short r..
You have learned that a subsidy is preferable to a tariff if the objective is to generate a given amount of employment in an individual industry. Explain this point in language understandable to someone untrained in economics.If you were an import..
College enrollments increased at the same time that average tuition rose dramatically. Does this contradict the law of downward-sloping demand?
The demand curve is given by: QD= 500- 5Px+ 0.5I + 10Py-2Pz where QD= quanity demanded of good X Px= price of good X I= consumer income, in thousands Py= price of Good Y Pz= price of good Z a) Based on the demand curve above , is X a normal or infe..
Explain why hyperinflation has such a devastating impact n economies. Explain what it takes to stop hyperinflation Describe the three types of unemployment. What types of government programs would be most effective in combating each type of unempl..
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output and each hour of labor produces five units of output. For L number of workers hired each hour and w hourly wage rate, the firm faces an upward- sloped labor..
You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
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