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A demand function is given by the equation q=120-2p, suppose the price is P=10. Must find three things: When the price is P=10, what is the quantity? The total revenue at this point is? The price elasticity of demand at this point is?
Back in 2000, the Canadian unemployment rate averaged 6.8 percent and current dollar GDP reached $1056 billion (or $1.056 trillion). Pierre Fortin, a leading Canadian macroeconomist affiliated with the Université du Québec à Montréal, had estimated C..
We are looking at the market place for good ABC. Supply and/or demand conditions are changing. Assume that after these changes occur, the equilibrium price increases while the equilibrium quantity decreases. Now, based on those possible changes suppl..
According to the Bureau of Labor Statistics, the distribution of consumer expenditures. If the negative income tax rate is set at 50 percent and the income floor is set at $5,000, a family that earns $3,000 would have a total income (including the in..
q.assume that company abc is replacing workers on the manufacturing floor with robots and other machines. company xyz
Video Concepts, Inc. (VCI) markets video and film equipment through various retail outlets. VCI has just acquired the DVD distribution rights to a new film. VCI estimates the total market size for a film of this type to be 100,000 units. Other data a..
Please describe one item in your life for each of the given categories and then explain why: elastic demand. unit elastic demand. inelastic demand.
One of the impacts that can erode the standard of living is inflation. The gov't uses the CPI to measure inflation. What is the CPI? How is it calculated? What are the uses of the information?
Many economists claim that the property tax is the superior tax for municipal governments. Do you agree or disagree? What are the pros and cons of the property tax? If you were advising a city with respect to the property tax and how much the city sh..
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms. (At the same time, one internet business such as grocery home deliveries have continually suff..
If television sets are sold in a perfectly competitive market, calculate the annual number sold. Under what consiquences will the market equilibrium be efficient.
The manager of Green Chemical Co. has been informed that this year’s production target Q for organic fertilizer (in millions of tonnes) is 20. The manager is asked to allocate the production across the company’s two plants. How should the manager all..
q.for the questions below write an explanation of the short-run effect including the determinant of ad or as that is
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