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Effects of price ceiling: The consequences of price ceiling might be: A) Scarcity of the commodity B) The government might oblige rationing that is, supply of goods in limited q
From roughly 1975 year, the proportion of the U.S. population into the Bureau of the Census category that is “middle relative income” where the “middle class’ has: (1) grown since many former u
Suppose yearly steel sales double to 80 million tons while the price falls $40 per ton, to $180 per ton. Therefore price elasticity of demand for steel is approximately: (w) 3.333. (x) 10.000. (y) 2.500. (z) 6.667. Q : Neoclassical economics One of my One of my friends can't find the answer of this question .Give me answer of this question. How are economic theories created in neoclassical economics?
One of my friends can't find the answer of this question .Give me answer of this question. How are economic theories created in neoclassical economics?
A monopolist selling several dierent products can sometimes "price discriminate" by bundling her products together. Here's an example. Suppose the U of C is planning to oer a series of two concerts. The rst program in the series consists of music by Chopin; the second, music by Stravinsky
Maureen generally drinks two glasses of Lost Horizons Cabernet Sauvignon each evening. Her demand for her preferred brand is least probable to be influenced by: (i) The bad crop of grapes lowering the quality of Lost Horizons Cabernet. (ii) Getting a $4000 annua
Assume that a monopolist can sell ten gallons of dehydrated water to backpackers of $10.00 each, however selling 11 gallons forces a price cut of $9.95. Then marginal revenue is: (w) $10.00. (x) $9.95. (y) $9.45. (z) $9.40.
Question: a) Johnny consumes peanuts (x1) and a composite good (x2). His utility function is U = x1x2. His marginal utilities are MU1 = x<
A family whose income leaves this hovering at the brink of survival and that gives only a razor’s edge existence is experiencing: (w) relative poverty. (x) economic shock. (y) financial destitution. (z) absolute poverty. Q : Demand of various vegetable why demand why demand change of onion in during one week due to change in it's price?
why demand change of onion in during one week due to change in it's price?
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