Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 9PA
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1. what will a decrease in input prices as well as a simultaneous decrease in price of good that is substitutable in consumption lead to?
2. A tax placed on buyers of airline tickets will __________ the price received by sellers of airline tickets and causes the quantity of airline tickets to _____________.
3. If your tuition is $5000 this semester, your books cost $600, you only work 20 rather than 40 hrs per week during the 15 weeks you are taking classes and make $15 per hr, and your room and board is $3000 this semester, then what is your
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