Search & Filtering
Suppose the price ratio of two goods is 3/4 and Shubman has a budget of $100. If his budget increases to $150 and the prices of the two goods stay the same, what is the new price ratio?
ASSUME THAT YOUR ARE FROM ANY ONE THE FOLLOWING FAMILY. How. Can u utilize the limited resources to fulfill the needs
Petty Shopper
Assume that your are from any one of the following family how can you utilise the limited resources to fulfill your needs
Farmers
Petty shoper
Flowers vender
Think about a single fast-food restaurant location and a commercial airline flying out of a single airport. If quantity is represented by the number of customers served, which business has the larger economies of scale? What does this mean for the number of firms and competitiveness of these industries?
The U.S. government administers two programs
that affect the market for cigarettes.
Media campaigns and labeling requirements
are aimed at making the public aware of the
dangers of cigarette smoking. At the same
time, the Department of Agriculture maintains
a price-support program for tobacco farmers,
which raises the price of tobacco above the
equilibrium price.
a. How do these two programs affect cigarette
consumption? Use a graph of the cigarette
market in your answer.
b. What is the combined effect of these two
programs on the price of cigarettes?
c. Cigarettes are also heavily taxed. What effect
does this tax have on cigarette consumption?
