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Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following:
1. Compute the price elasticity of demand for paint and show your calculations.
2. Decide whether the demand for paint is elastic, unitary elastic, or inelastic.
3.Explain your reasoning and interpret your results.
What is the Sharpe ratio on a portfolio of US Stocks and what is the lowest value for such that these numbers from the data are consistent with equation (2)?
The economy is experiencing a contraction (recessionary gap) of $400 billion. What government spending stimulus would you recommend to move the economy back to full employment if the MPC is 0.75? Would your policy be any different if the MPC were ..
An economy's production possibilities frontier is also its consumption possibilities frontier. under all circumstances,under no circumstances or else.
Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:
Ulrick and Birger started an air taxi service in Berlin, Germany, under the name Berlinair, Inc. Biger was approached by a group of travel agents who were interested in hiring an air charter business to take German tourists on vacation. Birger for..
Keeping the Law of Diminishing Returns in mind, comment on the quality of teaching and learning that occur when a resident successively works her 60th, 70th, 80th and 90th hours in a week.
microeconomics sectionpart a1. choose two of the following to explain with economic intuition. please be concise.a if
Identify 4 threats caused by globalization. Explain how globalization affects the gross domestic product (GDP).Explain your thoughts on globalization in your own words (e.g., is it bad or good Why or why not Does it affect all countries).
Write a 750-word essay on how the Environmental Protection Agency's policies impact business in the United States.
1. in a perfectly competitive industry in the short run if the government places a per - unit tax on output which of
Suppose the firms compete by simultaneously choosing price and fine the best response function of each firm as a function of the other firm's price. Compute the equilibrium price and quantity for each firm.
Q=aK+bL, where a and b are the coefficients of capital and labour respectively. Q refers to output, K refers to capital and L refers to labour. show that the marginal rate of substitution between capital and labour is MRTSKL=b/a
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