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Here is some price data for selected consumer products from 1970:
First class stamp .06$
gallon of gas .36$
dozen eggs .62$
gallon of milk $1.15
Construct a market basket using a graph.
calculate the price index based on the basket. Decide quantity and estimate current prices for each product.
What generalization can you make asd to the relationship between marginal revenue and elasticity of demand? Suppose the marginal cost of successive units of output was zero.
Which of the following recieves government subsidies that are in place to protect the population rather than the economic reason.
Propose two (2) methods in which organizations that provide the good may utilize this information. Provide a rationale for your response.
A machine is purchased for $56,000 with a useful life of 5 years, after which, it is estimated to be worth $5,000. The machine will be operating 2,500 hours per year with annual maintenance and operating costs of $6,000. Using an interest rate of ..
Why did Japan's export based economic groth stall in the period 1990-2012? In particular, focus on the differences between the modern
Assume that economy starts at equilibrium and mpc = 0.8. Illustrate what would be effect of a $500 increase in taxes once all rounds of multiplier process are complete.
The graph below shows the demand and supply curves of the market for gasoline as well as the wedge that the tax creates. Explain how much is the total tax revenue.
The campaign is very successful, and the company increases its share of the compact-car market substantially. What is Ford likely to do?
Find out the optimal price-quantity if the firm is not able to price discriminate.
In current decades, women have worked more hours in paid jobs also fewer hours in up paid housework.
How would a gradual increase in the percentage of fathers who stay home to care for young children while their wives continue working.
How much does consumption change this year in absolute dollars ($ ΔC) as a result of a $5,000 annual tax cut to your income, if the tax cut.
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