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Q. In 2005, Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the fixin's, and sold 7,500 of them. In 2006, although Bob raised the price to $1.75, sales of quarter-pound burgers rose to 8,200. Discuss why this does not represent a violation of the law of demand.
Q. The number of parts produced per hour by a worker is given by N=4+3t^2-t^3 where t is the number of hours on the job without a break. If the worker starts at 7 A.M., when will she be at a maximum productivity?
A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive equilibrium of market.
Suppose, on the other hand, that the second country retaliates with an export subsidy of its own.
Policymakers should have a detailed knowledge and profound understanding of all theoretical models and should design economic policy based on that knowledge.
Elucidate how much profit will it earn at that output rate. If the marketplace price dropped to $10, illustrate what should the firm do.
The anticipated capacity factor is 70 percent also the price for selling power will not escalate. The operational life of the plant is 40 years also the salvage value negligible.
Explain how many tons of coffee does the United States import. If the world price of a computer is $500, what is the world price of a ton of coffee.
Explain how global stratification impact local culture and expalin what are the positive does and the negative effects.
The market interest rate increases to 10%. IN the afternoon at what price would your bond sell in the secondary market.
Decide whether the Demand for paint is elastic, unitary elastic or inelastic. Elucidate your reasoning also interpret your results.
Illustrate why did official money lose its meaning in Germany during the 1920s. What did the German government do or not do.
Illustrate what could be related goods to health care. Illustrate what are the inter-relationship between these goods.
Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each.
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