• Question 1 1 out of 1 points Use the following demand and supply functions to answer the following question: Demand: Qd = 50 - 4P Supply Qs = 20 + 2P Equilibrium price and quantity are Answer Selected Answer: d. None of the above. Correct Answer: d. None of the above. • Question 2 0 out of 1 points Suppose a frost destroys much of the Florida orange corp. At the same time‚ suppose consumer tastes shift toward orange juice. What would we expect to happen
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As Economics 1. Economics:- 1. The branch of knowledge concerned with the production‚ consumption‚ and transfer of wealth. 2. The condition of a region or group as regards material prosperity. 3. Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses 2. Adam Smith Smith believed that competition (the belief that everyone should have a fair chance to compete to make‚ sell‚ and buy goods and services) was the key
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SOLUTION Explicit cost computation Items | GH¢ | Cost of products and services sold | 710‚000 | Selling expenses | 310‚000 | Administrative expenses | 90‚000 | Interest expense (bank loan) 90
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Americans have always had a strong disapproval of taxes‚ especially when they are the ones getting taxed. This was precisely the case during the Whiskey Rebellion occurring from 1791-1794. Farmers outraged by a new excise tax on whiskey protested and refused to pay. However the goal of the taxes was to help pay off a $54‚000‚000 national debt acquired during the Revolutionary War (Historical Spotlight). “Whiskey was a popular drink at the time‚ so such a tax could raise a lot of revenue”(Paul Krugamn
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The first military draft in the United States was shortly after the Iraq war. This draft was started by Senator Ernest Hollings and Representative Charles Rangel. There were a lot of people for the military draft but there were also a lot of people against it. The people that were for the draft concluded that it was a good thing for the United States. They said that there was different ways that you could get out of it but why would you want to do that when you could fight for your country in their
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accumulation of profitable balances‚ which a government should encourage by means of protectionism Capitalism - An economic and political system in which a country’s trade and industry are controlled by private owners for profit‚ rather than by the state He stated that nations would gain wealth if they allowed free economic competitions for their citizens. He believed that workers’ wages should also rise so that they could become consumers‚ thus creating demand. John Keynes Keynes was a British
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|1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets. | | | |(a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As | |manager of the facility‚ what decisions should you make regarding production
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Debate Outline University should be free I. Proposition: A. Introduction Thesis: University should be free. Today‚ university fees are usually quite high. Many students find that it is extremely difficult to find the funds to pay for an expensive education‚ so they look for school loans. These loans can weigh heavily on the minds of university students and put too much pressure to lead to students dropping out. Thus‚ free higher education is necessary for everyone. B. Terms define
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Global Competition This week‚ the emphasis was on global competition and in what way this can influence an establishment’s strategy to boost profits and how to utilize global competition to examine the outcome of relationships among employees and management. These dual topics were fairly straightforward for all team associates to comprehend and might be able to relate to their trades. All team associates were able to convey the topics to their trades and recognize how global competition can influence
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demand‚ which best fits here as the cause of the demand shift? d.) What will happen to the equilibrium price and quantity? c.) d.) P: _______________________ Q: _______________________ 2. Based on the following information for the state of Montana‚ a. Draw the Production Possibilities Curve. b. Determine the opportunity costs for a move from A to B; B to C; and C to D. CHOICE OIL / barrels WHEAT / bushels A 5000 0 B 4500 10000 C 2500 20000 D 0 25000 a.)
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