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If the price elasticity of demand of a product is -5, and the income elasticity of demand for the product is 2.5. If a 0.5 % decrease in product price as accompanied by a 1% decrease in consumer income, the firm's total sales will?
Fill in the column of marginal products. What pattern do you see. How might you explain it. Compare the column for average total cost and the column for marginal cost. Explain the relationship.
Do you think there is sufficient research data for drawing a clear conclusion of a possible causative link between cell phone usage and brain cancer?
Historically, young French workers (under age 25) have had relatively high unemployment rates: 21 percent in 2005. In 2006, the French government proposed to allow employers to fire young employees without cause (a labor restriction). How should this..
A longstanding issue in economics is how income taxes affect government revenue. Proponents of increasing income taxes say that taxing citizens at a higher rate will increase government tax revenue since you are collecting more from each person. Plea..
write down ten results from the polls that indicate something interesting about the relative strength of the parties. Write a letter to a presidential candidate explaining what you would recommend based on this data.
Illustrate the effect of each of these proposed policies in a demand and supply diagram of the gun market. For each question, show the price paid by consumers, th eprice received by producers an dthe quantity of guns sold.
Melissa engages in an activity that influences the well-being of a bystander. In order for Melissa's activity to give rise to an externality, it must be the case that
Under a system of floating exchange rates, is monetary policy or fiscal policy better suited for promoting internal balance? Why?
After learning short run and long run cost functions of industries, please give examples of industries which belong to the increasing return to scale, decreasing return to scale, and constant return to scale respectively. Explain why your pick follow..
Soundscape Enterprises manufactures Sonoblast, a device that produces a high-pitched reminder to telemarketers that they have once again disturbed you just when you were sitting 1⁄2 down to dinner. Give the formulas for the short-run production funct..
Though no horrendous numbers, Americas too died in the trenches of France, and the experience of mass death transformed American society. The United States went into the war to "make the world safe for democracy" but emerged from the war pessimistic,..
Suppose you have the following information about an economy: Checkable bank deposits: $300,000 Currency in bank vaults: $20,000 Currency held by the public: $40,000 Reserves held at the central bank: $20,000 Traveler's Checks: $10,000 Savings Deposit..
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