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Frequently Asked Questions
  • Home
  • Contact Us
  • Online Course
    • 3D Printing Applications
    • Accounting: Principles of Financial Accounting
    • Amazon DynamoDB: Building NoSQL Database-Driven Applications
    • Analyzing Big Data with SQL Quiz Answer
    • Android App Components – Intents, Activities, and Broadcast Receivers
    • Android App Components – Services, Local IPC, and Content Providers
    • API Development on Google Cloud’s Apigee API Platform
    • Applied AI with DeepLearning
    • Artificial Intelligence
    • Big Data, Artificial Intelligence, and Ethics
    • Blockchain and Cryptocurrency Explained
    • Build Your First Android App Quiz (Project-Centered Course)
    • Career planning: resume/CV, cover letter, interview
    • Computer Architecture
    • Cost and Economics in Pricing Strategy
    • Customer Value in Pricing Strategy
  • All Assignments
    • Week 5 Assignments of Data Warehouse Concepts Design and Data Integration
    • Peer graded Assignment Personas Problem Scenarios and Propositions and User Stories
    • Peer-graded Assignment: Positioning Statement & Focal Questions
    • Peer-graded Assignment: Creating and Testing a Demand/Value Hypothesis
    • Supply Chain Logistics Week 4 Peer-Graded Assignment Image Link:
    • Week – 4 Peer-graded Assignment: Build a Logistics Network
    • Supply Chain Logistics Week 2 Peer-Graded Assignment Image
  • Free Course
    • The 48 Best Free Online Spanish Courses To Learn
    • 53 Best Free Anatomy And Physiology Online Accredited Courses In 2021
    • Free Certification Course By Academy Europe
    • Top Free Certification Course By Eduonix
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    • All Udemy Free Certification Courses
    • Top Stanford university Free Courses

The Power of Markets I: The Basics of Supply and Demand and Consumer Behavior

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Suppose a local government decides to increase taxes on its residents and use that money to provide meals to each individual in the community. The scheme provides each individual with a small frozen dinner. Compared to a voucher system that allows individuals to purchase meals at a private restaurant, the frozen dinner scheme:
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Figure 5-3 shows a family’s preferences for housing and other goods. Suppose the government offered public housing that provided exactly B0 units of housing services to a low-income family. The public housing unit:
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Figure 5-1 shows the preferences of a consumer for food and other goods. He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve. The total outlay on food before the excise subsidy is given by _____.
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Figure 5-1 shows the preferences of a consumer for food and other goods. He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve. The total cost incurred by the government on the excise subsidy is given by _____.
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Which of the following is true of an excise subsidy?
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An excise subsidy given on each unit of X consumed will:
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If the price-consumption curve is horizontal, then demand elasticity:
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Troy likes attending Major League Baseball games and going to concerts. Following a 10% increase in the price of tickets to Major League Baseball (MLB) games, Troy’s attendance at these games fell by 10%.
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Consumer surplus can be depicted as the vertical distance between indifference curves, provided:
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A consumer currently purchases a good at a price such that her net benefit is positive. Her preference then changes and she now values the good more than before. If the market price remains unchanged, which of the following statements about her consumer surplus would be true?
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