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Suppose that Amazing Spider-Man 2 comes out, and hundreds of people arrive at a theater and discover that the movie is already sold out. Meanwhile, the theater is also showing a boring movie in its third week of release in a mostly empty theater. Why would the theater charge the same price of $7.50 for a ticket to either movie, when the quantity of tickets demanded is much greater than the quantity supplied for one movie, and the quantity of tickets demanded is much less than the quantity supplied for the other?
the government stimulus package implemented during the recession of 2007-09 was needed since built-in stabilizers are
A manufacturer determines that the supply function for x units of a particular commodity is S(x)=In (x+2) and the corresponding demand function is D(x)=10+In(x-1).Find the demand price when the level of production is x=10units
data for the market for graham crackers is shown below. calculate the elasticity of demand between the following
What is the magnitude of J.R.'s consumer surplus at the equilibrium price and how high must the price of ribs be for Judy to supply 20 ribs to the market?
5 countries are USA, Japan, Sweden, Trinidad and Tobago, and Botswana Go to CIA world factbook, click on guide to country comparisons, economy and GDP per capita Which country has the highest and lowest standard of living
Find the trend in the growth rate of M1 and M2. What accounts for differences in the growth rate of each money supply measure?
According to the agreement achieved by the Administration and the Congress, were there a breach of the debt ceiling (limit) because of the budget deficit, the defense budget would be automatically reduced by half.
Functions of Money) "If an economy had only two goods (both nondurable), there would be no need for money because exchange would always be between those two goods." What important function of money does this statement disregard. Suppose the money ..
What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
the price of gasoline in europe is much higher than in the united states and the reason is that the gas tax is much
General Motors (GM) produces light trucks in several Michigan factories, where its annual fixed costs are $180 million, and its marginal cost per truck is approximately $20,000. Regional demand for the trucks is given by: P = 30,000 - 0.1Q, where ..
Describe how this change affects output both immediately and over time. Is the steady state effect on output larger or smaller than the immediate effect?
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