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When the factory in a small town reopened after three years of being shut down, a majority of the population got new jobs. The average income of people in town went up by 50%. At the same time, the quantity of shoes bought in town increased by 60% while the quantity of socks purchased increased by 5%. What does this information tell us about shoes and socks? Calculate the income elasticity for both goods. Explain your results.
Explain how you would plan the capacity for a police station. Your answer should include the unique characteristics and the guiding principles.
Why is the rise of english in France more acute that the rise of the use of spanish in the US?
According to the Keynesian view “Businesses will undertake all investment projects for which the expected rate of profit equals or exceeds the interest rate.” Explain what this means.
Recall that economists tend to omit the (expected) negative sign, so just answer using the absolute value of your result and ignore the sign of the answer
According to the New York Times (11/18/06) the number of car producers in China is increasing rapidly. The newspaper reports that “China has more car brands now than the United States.” But while car sales have climbed 38% in the first three quarters..
Suppose that a monopolistic company faces the consumer demand curve. Find out the profit-maximizing quantity of the product.
q.assume which the abc corporation has a production and sales capacity of 1000000 per month. its fixed costs---over a
The production function is f(x)=4x1/2 if the price of the commodity produced is $60 per unit and the cost of the input is $20 per unit, how much profit will the firm make if it maximizes profit?
q. if the price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm
How much will the new certificate be worth 2 years from now?
Discuss why Interpersonal is the most important to a manager. Explain management processes used in the Interpersonal category.
Assume that the United States, as a steel importing nation, is large enough so that changes in the quantity of its imports influence the world price of steel. The U.S. supply and demand schedules for steel are illustrated in Table 4.12, along with th..
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