"Your economics teacher says, 'If the price of going to the movies goes down, people will...
"Your economics teacher says, 'If the price of going to the movies goes down, people will go to the movies more often.' A student in class says, 'Not if the quality of the movies goes down.' Who is right, the economics instructor or the student?"
Homework Answers
Answer : The economic instructor is right.
According to the law of demand, other things remain as constant if price fall then the quantity demanded increase and vice versa.
Here according to the economic instructor if price of movies fall then people will go to see movies more often. This means that here the economic instructor assumed that other things are constant and in this situation if price of movies fall then the quantity demanded will increase. Therefore, the economic instructor is right. But the student do not know that the economic instructor assumed other things are constant.
Add Answer to:
"Your economics teacher says, 'If the price of going to the
movies goes down, people will...
Before answering this question, piease complete the assigned reading for this week, specincaly, The EConomics of...
Before answering this question, piease complete the assigned reading for this week, specincaly, The EConomics of Public Issues ch. 22 "Student Loans." Since you are all in this class, I know that you all have to consider how to pay for college and all of you will solve that problem slightly differently, whether it be through paying yourself. help from your parents, financial aid or student loans. Critics of ever-expanding college enrollments argue that many students should not be going...
A study was done to look at the relationship between number of movies people watch at...
A study was done to look at the relationship between number of movies people watch at the theater each year and the number of books that they read each year. The results of the survey are shown below. Movies 6 4 7 10 2 3 6 7 9 10 3 2 Books 6 8 6 4 14 9 11 5 9 8 12 9 Find the correlation coefficient: r=r= Round to 2 decimal places. The null and alternative hypotheses for correlation...
study was done to look at the relationship between number of movies people watch at the...
study was done to look at the relationship between number of movies people watch at the theater each year and the number of books that they read each year. The results of the survey are shown below. 26 Movics 4 9 4 0 1 3 Books 12 1 2 13 a. Find the correlation coefficient: r = Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho ? 0 H1? 0 Round to 4 decimal...
A study was done to look at the relationship between the number of movies people watch...
A study was done to look at the relationship between the number of movies people watch at the theater each year and the number of books that they read each year. The results of the survey are shown below. Movies 2 2 2 2 7 10 2 2 9 7 6 1 Books 10 6 6 6 3 0 8 5 1 6 2 6 x value y value Find the correlation coefficient: r=r= Round to 2 decimal places. The null...
One of your teachers tells your class that skipping class often can lead to dire consequences....
One of your teachers tells your class that skipping class often can lead to dire consequences. He says that data from his previous classes show that students who often skip class have twice the risk of failing compared to students who attend regularly, even though class attendance and participation are not part of the grade. (a) What term from this chapter applies to the phrase "twice the risk?" baseline risk odds ratio relative risk (b) Give two reasons why the...
please help! 2. Analyzing occupancy rates Bill, an economics student, says, "This articie makes no economic sense. It quotes someone as saying that the price of apartments will go up if jo...
please help!
2. Analyzing occupancy rates Bill, an economics student, says, "This articie makes no economic sense. It quotes someone as saying that the price of apartments will go up if jobs pick up in Santa Clara. But 5% of the apartments are sitting empty. Prices should go down when there is a surplus like this one." Sara, the graduate teaching assistant for Bil's section, tries to explain to him why he might be wrong. (You have to answer her...
Your economics instructor assigns you and a student you do not know a joint project. Assume...
Your economics instructor assigns you and a student you do not know a joint project. Assume that you and your partner are both interested in maximizing your grade, but you are both very busy and get more happiness if you can get a good grade with less work. Since you do not know the student, making a credible commitment to how you are going to work is impossible. Note that on the payoff matrix below, 10/10 is happiest and 1/10 is...
and a classmate (let's call him Dave) discover 1. You that your economics teacher has been...
and a classmate (let's call him Dave) discover 1. You that your economics teacher has been secretly talking about notions such as "love," "fairness," and "decen- cy." Desperate to preserve his reputation in the com- munity of economists, he tries to buy your silence irn the following way. "You two sit silently at a table. I'll put down a hundred-dollar bill. You can take the bill, or pass the decision to Dave. Before Dave decides, I'll put another hundred-dollar bill...
Since you are all in this class, I know that you all have to consider how...
Since you are all in this class, I know that you all have to consider how to pay for college and all of you will solve that problem slightly differently, whether it be through paying yourself, help from your parents, financial aid or student loans. Critics of ever-expanding college enrollments argue that many students should not be going to college. Rather, they should be going to trade or vocation schools to become electricians, plumbers, stonemasons, etc. The reasoning is that...
MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use Newton's Method to approximate the indicated zero of...
MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use Newton's Method to approximate the indicated zero of the function. Continue the iterations until two successive approximations differ by less than 0.001. Then find the zero using a graphing utility and compare the results. (Round your answer to three decimal places.) FX) - 7x - 9Vx+1 8 10 -3 - 4 -51 -6 The xy.coordinate plane is given. The curve starts at the point (-1, -7), goes down and right becoming less...
Before answering this question, piease complete the assigned reading for this week, specincaly, The EConomics of Public Issues ch. 22 "Student Loans." Since you are all in this class, I know that you all have to consider how to pay for college and all of you will solve that problem slightly differently, whether it be through paying yourself. help from your parents, financial aid or student loans. Critics of ever-expanding college enrollments argue that many students should not be going...
study was done to look at the relationship between number of movies people watch at the theater each year and the number of books that they read each year. The results of the survey are shown below. 26 Movics 4 9 4 0 1 3 Books 12 1 2 13 a. Find the correlation coefficient: r = Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho ? 0 H1? 0 Round to 4 decimal...
One of your teachers tells your class that skipping class often can lead to dire consequences. He says that data from his previous classes show that students who often skip class have twice the risk of failing compared to students who attend regularly, even though class attendance and participation are not part of the grade. (a) What term from this chapter applies to the phrase "twice the risk?" baseline risk odds ratio relative risk (b) Give two reasons why the...
please help!
2. Analyzing occupancy rates Bill, an economics student, says, "This articie makes no economic sense. It quotes someone as saying that the price of apartments will go up if jobs pick up in Santa Clara. But 5% of the apartments are sitting empty. Prices should go down when there is a surplus like this one." Sara, the graduate teaching assistant for Bil's section, tries to explain to him why he might be wrong. (You have to answer her...
Your economics instructor assigns you and a student you do not know a joint project. Assume that you and your partner are both interested in maximizing your grade, but you are both very busy and get more happiness if you can get a good grade with less work. Since you do not know the student, making a credible commitment to how you are going to work is impossible. Note that on the payoff matrix below, 10/10 is happiest and 1/10 is...
and a classmate (let's call him Dave) discover 1. You that your economics teacher has been secretly talking about notions such as "love," "fairness," and "decen- cy." Desperate to preserve his reputation in the com- munity of economists, he tries to buy your silence irn the following way. "You two sit silently at a table. I'll put down a hundred-dollar bill. You can take the bill, or pass the decision to Dave. Before Dave decides, I'll put another hundred-dollar bill...
Since you are all in this class, I know that you all have to consider how to pay for college and all of you will solve that problem slightly differently, whether it be through paying yourself, help from your parents, financial aid or student loans. Critics of ever-expanding college enrollments argue that many students should not be going to college. Rather, they should be going to trade or vocation schools to become electricians, plumbers, stonemasons, etc. The reasoning is that...
MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use Newton's Method to approximate the indicated zero of the function. Continue the iterations until two successive approximations differ by less than 0.001. Then find the zero using a graphing utility and compare the results. (Round your answer to three decimal places.) FX) - 7x - 9Vx+1 8 10 -3 - 4 -51 -6 The xy.coordinate plane is given. The curve starts at the point (-1, -7), goes down and right becoming less...
Most questions answered within 3 hours.
-
1. Choose the answer that is closest to the definition of a
significance level
a) If...
asked 35 minutes ago -
When light is refracted, on what does the angle of refraction
depend? Select all that apply....
asked 52 minutes ago -
A (726) g mass is hung on a spring. As a result the spring
stretches (16.5)...
asked 1 hour ago -
SOLUTION NOT NEEDED ONLY NEED THE ANSWERS, HOMEWORK IS DUE IN 30
MINUTES.
4)Which of the...
asked 2 hours ago -
You will select one card from a standard deck of 52 cards. What
is the probability...
asked 2 hours ago -
50% of the volume of a boat, sailing down the Mississippi (where
the water density ρ...
asked 3 hours ago -
Calculate how many moles of ions are in 1.4 L of 2.9 M KNO2
(aq). Remember...
asked 3 hours ago -
Experiment:
In the experiment: Mix together 74 g. (92 ml.) of n-butyl
alcohol and 120 g....
asked 4 hours ago -
This Python module will be menu driven
and use conditions to check user input in order...
asked 4 hours ago -
Tip Calculator App
For this project, you will create a tip calculator Android
app. The user...
asked 5 hours ago -
A first order chemical reaction has an energy of activation of
90.0 kJ/mol and a rate...
asked 6 hours ago -
Which statement is not correct?
Mutations change the sequence of nucleotides in DNA.
Mutations can be...
asked 8 hours ago