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How would you determine the elasticity of demand for a good without being given the change in quantity/price?
Suppose market demand for oranges is given by QD = 40 - 2P where QD is quantity demanded and P is the market price. Market supply is given by QS = 4+P where QS is quantity supplied and P is the market price. Equilibrium price is 12 and quantity is 6...
Substitution and income effects of a change in price of a good may be used to explain the:
To make a proper stop and frisk, a police officer may obtain the necessary information from:
According to the Onondaga reservation located south of Syracuse, Lake Onondaga is heavily polluted with Methyl Mercury due to the fact that Allied Chemical discharged around 165,000 pounds of waste. Where A is the methyl mercury abated in thousand po..
If you have to make a random guess and there are four possible answers, what is the expected value of guessing?
Contrary to the assumption in part a,there was technological progress in the 20th century, i.e. the technology growth rate g>0. Suppose this rate of technology growth g is expected to be the same in the 21st century. Now let us consider the same ques..
Suppose you are in charge of monetary policy. Assume your goals are a full employment level of production with price stability. Assume further the economy has excess capacity with unemployment at 7.8% (the natural rate is 5.2%), but you are concerned..
Which countries have a negative interest rate? Do you think one day USA too may have negative interest rate? If so, will it affect your saving and expenditure patterns? How can this affect stock market?
You work for a Stock Brokerage Company (S). As part of its sales incentive program, S awards points to its salespeople for sales they make. These points can then be cashed in for vacation trips. S owns 20% of a certain fund group (M), and S's ownersh..
Do an economic analysis of two giant competitor brands, Coke and Pepsi, in the context of them being rivals in the "Twenty-First Century" and use all the knowledge you have gathered over the last several weeks. Please do not make it a financial case...
A domestic subsidy to enable an industry to compete against imports:
There are three firms in an economy: A, B, and C. Firm A buys $400 worth of goods from firm B and $240 worth of goods from firm C, and produces 220 units of output, which it sells at $7 per unit. How much would government get if it introduced an inco..
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