|68 |62 |55 |50 |45 |38 | (a) What are the equilibrium price and quantity? (b) What will be the effect of the government fixing a minimum price of (i) £3.00 per kilo; (ii) £1.50 per kilo? (c) Suppose that the government paid tomato producers a subsidy of £1.00 per kilo. (i) Give the new supply schedule. (ii) What will be the new equilibrium price? (iii) How much will this cost the government? (d) Alternatively‚ suppose
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of the following draw a separate diagram to demonstrate the answer. (Hint: Remember the difference in a change in demand [supply] and a change in quantity demanded [supplied]. Don’t shift both curves unless appropriate). Describe what happens to equilibrium price and sales. Explain why or why not this makes sense in the real world. -A- Show the effect on the U.S. new construction residential housing market in the event of a severe economic recession. In theory‚ during a recession both demand for
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"Do you hear the people sing? Sing the song of angry men..." Perhaps many people are familiar with the song above‚ and this is from the movie called Les Misérables. The plot of the movie is based on the novel written by a French poet and playwright Victor Hugo. The beginning of the movie is set in the early 19th century France‚ in a prison. This movie is mainly about the main character‚ Jean Valjean‚ was sentenced to the jail for 19 years only because of having stolen a loaf of bread for his starving
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Economic Sciences and Abel Prize for his work on partial differentiation. Nash Equilibrium is a game theory concept‚ so the general idea about this was it applies to games. Economists had other ideas
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General Chemistry II Determining of the equilibrium constant for the formation of FeSCN2+ Introduction The objective of this experiment was to determine the equilibrium concentration and then determine Kc. A dilution calculation was formed to determine the concentration of SCN- and Fe(SCN)2+. Each cuvette was filled to the same volume and can be seen in table 1. Then the absorbances were recorded from each cuvette and can be seen in table 1. A Beer’s law plot was made from the data that was recorded
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Le Morte d’Arthur is a story which haves variety of complex characters and events that demonstrate the important lessons that can still be relevant into today’s world. The lessons that can be learn from the story could be of love and betrayal. I find Malory’s work to be personal rather than political or anything else in that matter.The reason why is by characters and the actions they take through the story.Some of the actions that lead me to think that lessons or truths that we can learn from is
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Security Principles CMGT/441 November 21‚ 2012 Security Principles The security principles of information technology (IT) are confidentiality‚ integrity‚ and availability for your company data. Confidentiality is the way that a computing system’s assets can be read only by authorized parties. Integrity is that you can only be modified or deleted by authorized parties or in authorized ways. Availability is that the data is accessible to the authorized parties in a timely fashion (Principles of IT
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5Yd I = 60 T = 10 + 0.2Y X = 20 a) Find out the value of equilibrium national income. b) Check if there is a budget deficit or surplus. c) And what about the trade balance? d) What happens if Imports increase of 20? G = 55 M = 10 2. Given C = 40 + 0.5(Y-T) I = 60 G = 55 T = 10 + 0.2Y What is the value of equilibrium income level ? If both autonomous consumption (expenses) and T increase by the same amount‚ equilibrium Y will increase‚ decrease or being unchanged? Why? 3. In a
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The Smurfette Principle The Smurfette principle is a controversy on how TV shows and movies have all men/boys as characters with zero to one girl. A writer by the name Katha Pollitt writes an article in the New York Times talking about this principle. She defines her principle as‚ “…a group of male buddies will be accented by a lone female‚ stereotypically defined” (Pollitt). She uses her daughter to explain to us that there is just not enough shows for little girls to watch. She mentions how
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DeVito (2012) claims that the Principles of Communication have numerous practical implications for our communication effectiveness. Studies suggest we are estimated to communicate and interact for up to 75% of everyday. However‚ all this time communicating doesn’t necessarily mean we are always communicating effectively‚ seen through events such as divorce‚ broken family relationships and friendships and dissatisfied employees and employers (Tubbs‚ S.‚ 2010). Tubbs (2010‚ pg. 25) states “most generally
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