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Why should the United States devote more of its national output to investment goods? Why not? Why do some economists think this would be better than just producing consumption goods?
Determine by how much the demand for Florida Indian River oranges would change as a result of a 10 percent increase in the price of Florida interior oranges, and vice versa.
Suppose that velocity is constant and the economy's output of goods and services rises by 5 percent each year. What money supply should the Bank of Canada set next year if it wants to keep the price l
The price of alcohol all increase by 10 percent. Calculate by how much the demand for cigarettes will change (a) in the short run and (b) in the long run
Lucinda would be equally content with a bundle of 4 books and 4 games and Kyle would be equally content with a bundle of 4 books and 1 game.
The PTA must take steps to eliminate its operating deficit. Should the transportation authority increase or decrease the price per ride based upon the price elasticity of demand?
Assume the store manager observes that the quantity demanded increases from 700 CD players to 1,300 DVD players. What is the price elasticity of demand for DVD players?
Suppose the administrators came back to you and state that the correct price elasticity of demand for the campus series is 0.7. Would you advise the administrators differently? Why?
Suppose at the current price, the price elasticity of demand for a campus film series is 2. If administrators want to increase total revenue, should they cut or increase price? Explain. (No word li
Is D an economic bad (the opposite of a good)? To answer this question, find ∂U/∂D. Draw Lan's budget constraint. Use the Lagrange method to derive Lan's demands for A and D.
Determine the free trade equilibrium. Then calculate and graph the following effects of an import quota that limits imports to 100 bags.
Distinguish between how the market reacts to a temporary difference in prices for the same resource and how the market reacts to a permanent difference. Why do the reactions differ?
What would happen to the quantity demanded of cigarettes if income increases? What would happen to the quantity demanded if household income were to rise by 1% next year?
They are currently producing 2000 shirts per month with average total cost of $8.00, average fixed cost of $2.00, and marginal cost of $10.00.
What steps must be taken by the Fed to achieve its goal? How will the money supply curve be impacted? What reaction would you expect in the money markets?
Explain how a business downturn originating from the demand side might differ from one originating from the supply side. What economic policy changes might you expect in response to each of these even
Suppose that a firm has the choices 1, 2, and 3 above. In the short run we expect that the firm will produce using ______ when fixed cost is ____
Which of the following is an example of an efficiency-equity trade-off faced by economic agents? Some U.S. colleges are actively recruiting foreign students for their technology-based programs.
Preserve a historical building by providing annual maintenance funds of $35,000 forever. Compute the capatalized equivalent amount for these building maintenance expenses.
The firm's debt ratio, and it is known that the firm engages in very little R&D and advertising. Is it necessarily true that the firm has no monopoly power, or at least is not exercising it?
Estimate the equilibrium price from the chart. Who ultimately paid for any monopoly profits above the equilibrium price?
Construct a 95% confidence interval for the mean wage in the population. Use EViews to get the correct critical t values for constructing the interval.
Discuss the historical development of the American Agriculture Industry to its present structure. What market structure characterizes this industry and why?
One might expect firms in a monopolistically competitive market to experience greater swings in the price of their products over the business cycle than those in an oligopoly market.