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If you were to draw a demand curve for Car how would you label the axis that is what you're measuring along each axis with this demand curve slope upper down be vertical or horizontal and why
Microeconomics, Economics
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Question: Emily likes pretzels and pepsi. She bought 10 bottles of Pepsi for $2 each. Her marginal utility for the tenth bottle was 12 utils. She also bought 7 bags of pretzels for $4 per bag. Her marginal utility for th ...
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Question: Suppose that the demand for and the supply of a product in a small open country are given by Q d = 60 - P and Qs = P - 20. The world price of the product is $36. (1) Compute the quantity of the product that the ...
Question: a. Why women are more likely to stay at home and take care of children than men are? b. What you expect would happen to (a) if women's salary were to increase so that women make 10% more than men, for the same ...
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Question: 1. a. What is meant by scarcity of resources? b. If there is no scarcity, then economics ceases to exist? Do you agree or disagree? If yes, explain. If no, explain. After reading the headline of chapter 1 - Amc ...
Question: What do isoquants look like if there are no substitution possibilities at all, for example, if making a one-pound cake requires precisely three eggs and three cups of flour? The response must be typed, single s ...
Question: Suppose inputs are only substitutable at two units of labor for every one unit of capital and one unit of output is produced for every unit of labor or 1/2 unit of capital. What would be the equation for the pr ...
Question: Apple Computer wants to have $2.1 billion available 5 years from now in order to finance initial production of a device that applies IOT technology for home use. The company expects to set aside uniformly incre ...
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