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Q. Assume you are a painter also the price of a gallon of paint rises 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 also Elucidate how your calculations.
2. Decide whether the Demand for paint is elastic, unitary elastic or inelastic.
3. Elucidate your reasoning also interpret your results.
What is the expected profit of simultaneously pursuing both programs.
Assume that the society decided to reduce consumption also increase investment. Explain how would this change effect economic growth.
Find the output you should produce in order to maximize your expected profits so that you can then determine your expected profits accurately.
Solve for steady-state level of captial and output. What savings rate would be necessary to achieve a steady-state output of 150.
Assessing the development of the discipline from today's perspective, how would Keynes's impact compare with that of your candidate.
Use supply and demand model to explain the dramatic rise in the price of a college education.
Elucidate however, in checking with government economists, Hanna finds that every capita disposable income is expected to rise.
Government budget going from deficit to surplus and the simultaneous enactment of an investment tax credit.
Compute the profit-maximizing output for the price leader. Illustrate what the market price is given the price leader's output in (c). Elucidate how much does each competitive firm produce.
What is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending, interest rates.
Caught up in broad social and economic disaster that swept the Mediterranean basin during the twelfth century BCE, what seems to have happened to the civilization of people.
Although firm expects the order to be of 6 units, determine the minimum average cost of the firm with these different order sizes.
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