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Explain what a sudden popularity of Economics Professor brand casual wear would likely do to prices of that brand.
Draw hypothetical supply and demand curves for tea. Show how the equilibrium price and quantity will be affected.
The size of cars in the United States and in Italy? What would be the effect of raising the price of gasoline in the United States to $5 per gallon?
Define the fallacy of composition. How does it affect the supply/demand model?
If you agree that men and women have not had equal rights to choose, what implications does that have about the objectivity of economic analysis?
What was the likely effect of this on housing prices? What was the likely effect of this increase on housing prices? Demonstrate graphically.
Solve for equilibrium price and quantity of wheat. Would a government-set price of $5 create a surplus or a shortage of wheat? How much?
Rewrite the demand equation to reflect an increase in demand of 3 units. What happens to equilibrium price and quantity?
Create demand and supply tables corresponding to these equations. Graph supply and demand and determine equilibrium price and quantity.
Why is a supply/demand analysis that includes only economic forces likely to be incomplete?
What would the holders of the misprinted sheet likely do when they heard of the government's decision?
Construct new demand and supply curves reflecting this change. Describe with words what happened to the supply curve and to the demand curve.
How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?
What are the new equilibrium price and quantity? How much do dairy farmers receive per gallon of milk after the tax? How much do demanders pay?
How would you calculate it? What additional information would you search for before you did your calculation?
Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles Airport Greenway?
Why do you think this happens? In this example, does the existence of price discrimination allow for racial or sexual discrimination? (Feminist)
Calculate the income elasticities of demand for the Income rises by 20 percent; demand rises by 10 percent.
How is elasticity related to the revenue from a sales tax? What happened to total revenue from 2006 to 2007?
What recommendation would you have for each state to maximize revenue? Which state was most likely to be following a politically unsupportable policy?
Compare your issue stands with the official party platforms of your party:
Are you a Classical or Keynesian economist? Pick a perspective and defend. Post your response, and then read and reply to classmates' posts.
Take into consideration the impact on quantity and price in your analysis.
How does this influence the culture and operations of the MNC(Toyota)?
What is the opportunity cost of burgers for the United States, i.e. how many burgers must the United States give up to produce one phone?