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A key determinant of the price elasticity of supply is the:
a. number of close substitutes for the good in question.
b. definition of the market.
c. length of the time period.
d. extent to which buyers alter their quantities demanded in response to changes in their incomes.
Consider the following statement. "Winter ice storms that sometimes hit Chicago are good for the economy. They create many jobs to remove downed limbs and replace trees and bushes." Do you agree that ice storms are a net benefit to the economy? To an..
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. What is the average and marginal cost of unit production (again, measure output in thousands of uni..
21.if planned aggregate expenditure pae in an economy equals 2000 0.48y and potential output y equals 4000 then this
Discuss how an organization benefits from operational planning, and how operational planning and budget planning are related. Explain how “system thinking” improves operation decision making.
In an effort to reduce their total costs many companies are now replacing paychecks with payroll cards
For the United States, empirical studies indicate that over the past two decades the cost of international transportation relative to the value of U.S. imports has: Should international transportation costs decrease, the effect on international trade..
q1. mark consumes only cookies and books. at his current consumption bundle his marginal utility from books is 10 and
en spends her afternoon at the beachood also drinks rather than expenditure an equal amount of funds to go to a picture.
Consider an economy whose production can be characterized by the following production function: Yt = 2K^5 N^5. Write the production function in per worker terms. Draw a graph of this production function. Introduce a curve that shows the level of inve..
q1. explain how did mortgage-backed securities spread losses during the mortgage default crisis?q2. transactions and
What are the disadvantages of setting up a private option in the Beveridge model?
Annual per capita consumption of milk in the U.S. is 21.6 gallons. Being from the Midwest, you believe milk consumption is higher there and wish to support your opinion. A sample of 16 individuals from the Midwestern town of Webster City showed a sam..
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