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Assume that the price of smartphones increased from $200 to $222 per unit. The manufacturer decides to supply 12,000 units instead of 10,000.
Calculate the price elasticity of supply.
Is supply elastic or inelastic?
Describe at least one factor that determines elasticity.
s there a difference between the free market systems versus a command economy. In your own words explain the characteristics that underline both theses' systems. Provide a country example for each system.
Year Nominal GDP(in billions) GDP Deflator(base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 1. What was the growth rate of nominal GDP between 1999 and 2009? Round your answer to one decimal place.
Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) in this economy? Suppose short-run output over the next four years ..
need a five page paper on an economic topic from the wall street journal using apa format. the paper needs to include
A person managing a laundry for someone else for $30,000 per year decides for open his own laundry. Revenue during the first year of operation is $100,000 and the expenses are $3,000 for salaries, $10,000 for supplies, $8000 for rent, $2000 for ut..
Assuming that the euro-U.S Dollar exchange rate is 0.9. If a German buys an American automobile for $30,000, then what would the automobile cost in Euros? What would the automobile cost if the dollar depreciated by 20 percent?
In 800 words, Research the company Health Care Corporation of America competitive environment over the course of its history since 1990 using scholarly and professional journals and other authoritative works of experts in the field.
An accountant says she found a legal way for Jane to shelter $2,000 of taxable income from the fed gov't. Max amount Jane is willing to pay to learn this strategy and reduce her taxable income by $2,000 is??
What is the profit-maximizing price for this firm? On the graph show the area, which area represents the net loss to society resulting from the monopoly power conferred by the patent?
What is the value of the average propensity to consume at $200 real GDP What is the value of the average propensity to consume at $400 real GDP What is the value of the average propensity to save at $200 real GDP What is the value of the average prop..
Why are these statements technically incorrect What would a supply and demand graph look like if it portrayed demand exceeding supply What does a commentator really mean when he or she says the demand for natural gas exceeds the supply
Suppose that the interest rate is determined by; M/P=d1Y-d2i, where P is the price level, Y is real GDP and M/P is real money stock,
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