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For the given events, tell me what happens as a result of the given events. You don't have to draw any graphs. 1. Please tell me what happens to the equilibrium price, and equilibrium quantity.
If the price was initially $4, and free to fluctuate, what the changes in price and supply we expect?
How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?
For each question, draw a market in equilibrium, labeling the initial equilibrium price and equilibrium quantity. Then shift the appropriate curve and label the new equilibrium price and equilibrium
The sturgeon that live in these waters are laying fewer eggs than before. Show graphically and explain the effects on the market for caviar and the market for champagne.
Q1. Why do you think firm 1's marginal cost is lower than firm 2's marginal cost? Q2. Determine the current profits of the the two firms.
If these economists ignore the possibility of crowding out, what would they estimate the marginal propensity to consume (MPC) to be?
n the basis of three individual demand schedules on the next page, and assuming these three people are the only ones in the society, determine (a) the market demand on the assumption that the good i
The four major characteristics of a purely competitive market structure are ____________, _____________, ___________, ______________.
1. Question: Graph the market demand and supply curves. (Need help with the graph.) 2. Question: Determine the market equilibrium price/output combination both graphically and algebraically.
Draw a diagram to identify a monopolistic competitor that is incurring losses.
1) If there is no tariff, how much do consumer pay for a pound of coffee? What is the quantity demanded? 2) If the tariff is imposed, how much will consumers pay for a pound of coffee? What is the qua
We observe that both the equilibrium price of cream cheese and the equilibrium quantity of bagels have risen. What could be responsible for this pattern-a fall in the price of flour or a fall in the
If you were ask to forecast future demand for this firm, how would you set up a forecasting model?
Which of the following do you think would lead to an increase in the current demand for beef? a. higher pork prices b. higher consumer income c. higher prices of feed grains used to feed cattle. d. wi
What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed. Te money supply is increased by 100 while gove
A U.S. pharmaceutical company holds a patent on a drug in the U.S. and an analogous patent in Canada. Its marketing department has identified the following inverse demand curves for this drug in the
We may consider buying from vendor that charges $5 for every women's shirt. What would maximum profits be if we could not set different prices for students and working professionals;
By assuming the technology advance caused cost curves to shift downwards at the same time that demands was shifting to the right, draw a diagram or diagrams to show what will happen in the short and
If the resort decides to offer different prices to each market segment, what prices would maximize profits? What would be the total # of skiers, the total revenues and total profits?
1. Suppose that the price was 5% lower and all other factors do not change. How much more would you buy each year? 2. Using this information, calculate the own-price elasticity of your demand.
Suppose price is held constant. What will happen to the quantity demanded if due to PVR the number expected viewers falls to 0.5 million? Calculate viewer elasticity based on the two points and expl
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the
Problem: Why do changes in price expectations change demand today? Problem: Do prices change demand for perishable or hard-to-store goods, like fresh vegetables or gasoline?
The following payoff matrix represents the long-run payoffs for two duopolists faced with the option of buying or leasing buildings to use for production. Determine whether any dominant strategies e