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# Q: Orange juice and apple juice are known to be perfect substitutes............

a. Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price consumption (for a variable price of orange juice) and income-consumption curves. b. Left shoes and rights shoes are perfect complements. Draw the appropriate price-consumption and income-consumption curves. c. Suppose that the average household in a state consumes 500 gallons of gasoline per year. A tencent gasoline tax is introduced, coupled with a $50 annual tax rebate per household. Will the household be better or worse off after the new program is introduced? Want an Answer? Related Questions in Others • Q: economic questions. August 02, 2011 there are economics questions. some multiple questions and some short answer questions. There is derection also. I attached ppt files. These files cover all questions. I need correct... • Q: Micro Economics (Solved) October 11, 2014 See attached, and must adhere to deadline. Solution Preview : 1-35) Price =$6 Quantity = 60 Hence, Revenue = $360 2-36) As profit = (P – AC)Q Total profit = (6 – 1)30 + (6 – 1)60 =$450 3-28) D) decreasing as output increases 6-15) B) electricity...
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i need the answer of this question with graphical reprisentation November 10, 2012

Explain each of the following statements using supply-and-demand diagrams. a. “When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the...

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Numerically solve for Rawls’ optimal consumption point given the above... August 11, 2014

information. b.) Numerically solve for Rawls’ optimal consumption point given the above information. c.) Suppose the price of a left shoes increases from $2 to$3....

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Intermediate Economics (Solved) June 04, 2012

Need answers to the questions, with all workings shown

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Suppose that the linear market supply curve starts on the price axis at $8 per box, and that the linear market demand curve hits the price at$7 per box. Is there equilibrium in this market?...

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