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what are the three methods that societies have used to allocate their scarce resources give an example of each method give an example of a good that
if you were a restaurant owner and you knew that the demand for your restaurant was elastic how would you feel about a sales tax on restaurant food
show the market for cigarettes paying particular attention to the price elasticity of demand and supply what would happen to the total expenditure on
list the 3 factors that determine the price elasticity of demand state the factor that determines the price elasticity of
over the last year both the supply and demand for oil in the us has gone up what might have caused this and what happened to the price and quantity
the price and quantity of lumber and other building materials has gone up recently show graphically and explain what might have caused
the price of gasoline has recently come down as has the quantity show graphically and explain what might have caused
new technology was just invented that decreases the cost of planting and harvesting soybeans show the effect of this on the soybean market show the
bread is a related good to peanut butter show on the graph of the market for peanut butter the impact on the price and quantity from an increase in
determine on any market the effect of the following do each separately on a separate graph starting from an initial equilibrium position for each
1a show on the market for milk the effect of the introduction of bgh bovine growth hormone1b show on the market for cheese the impact of what
market questions come in two typestype 1 you are given the exogenous variable change and you must shift the correct curve in the right direction and
suppose that the economy is characterized by the following behavioral equations c 170 07yd i 170 g 150 t 100a what does equilibrium output equal yb
evaluate your workplace and identify a group that has power in the organization analyze why the group is considered powerfula what are the elements
discuss how decisions are made in your workgroup which model is used for what situation be sure to provide specific examples of at least three
how much will your firms total revenues revenues from both products change if you increase the price of good x by 2
you are the manager of a firm that receives revenues of 50000 per year from product x and 80000 per year from product y the own price elasticity of
us employers have strongly opposed a corporatist agenda under which employment relationships would be jointly governed by unions employers and
ashley can join a club for an annual fee of 20 if she can purchase golf balls at 40 off the retail price draw ashlys budget constraint if she joins
consider a nation in which the volume of goods and services is growing by 5 percent per yearif a countrys economic size is growing faster than the
suppose the annual demand function for the honda accord is qd 430 - 10 pa 10 pc - 10 pg where pa and pc are the prices of the accord and the toyota
george has been selling 5000 t-shirts per month for 850 when he increased the price t0 950 he sold only 4000 t-shirts what is the demand elasticity
if in some country personal consumption expenditures in a specific year are 50 billion purchases of stocks and bonds are 30 billion net exports are
classify each good as a final good or intermediate good briefly explain wach choice1 running shoes2 cotton fibers3 watches4 textbooks5 coal6
review the federal reserve board website identify at least five key pieces of data links you would use in microeconomic decision making on the web