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Microeconomics Question pt 2-9

9. The price of tomatoes at a local market will fall because of the following event: A. A news report of one medical study suggesting tomatoes cure certain illnesses B. A hailstorm that destroys one half of the tomatoes just…

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Determining Loanable funds

Explain how a firm decides how much loanable funds it will demand? Loanable funds is the sum total of all the money people and entities in an economy has decided to save and lend out to borrowers as an investment…

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graph wages

Many critics of college sports, football and basketball in particular, argue that athletes at the major universities are exploited by the monopsony power of the NCAA. On a graph, illustrate what nonunion athletes face in the market for their services.…

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Econ help/Markets

I need help with this econ work. I tried to answer the questions but there are some I don't understand.First question As price searching firms enter a market, the demand facing each firm within that industry will __________________ and become…

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economics

assume that the following conditions exist for a perfectly competitive firm:price = $10, current output = 100 units/hour, ATC at current output = $9.00, AVC at current output = $8.00 and MC at current output = $8.00.a. Is the firm…

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should it raise or lower theire price?

suppose a pizza parlor is interested in increasing total revenue by adjusting its price. Should it raise prices or lower prices? Explain giving concrete examples. When there is less quantity demanded of a product at each possible price, we have…

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Economics Homework (4 Questions)

1 .a. Explain Giffen good (draw a graph). Are all inferior goods Giffen good? b. Suppose you live on two goods. Explain why two goods cannot be inferior at the same time (hint: draw Income Consumption Curve).2. A demand and…

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HSM/210 Week 7 DQ 1

Discussion Question 1Americans have different opinions when it comes to quality of life issues. There are several American values listed on p. 340 in Ch. 9 of the text. Although the text presents this as a group activity, complete the…

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