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Elasticity and Its Application
Over the last year your boss has noticed that it would be useful for your firm to understand how consumers behave when variables in the market change and how these changes affect the total revenue for your product. You have been asked to do an analysis for your product, Good A, by addressing the following questions and reporting the results to your boss in a formal paper.
Questions:
1. George has a utility function xy+2x. He has 60$ in his pocket. x cost 4$ and y costs 2$. What is the optimum bundle?
1. here is the production possibilities table for war goods and civilian
Apply the rule of 70 to solve the following problem. Real GDP per person in Mexico in 2005 was about $12,000 per person, while it was about $48,000 per person in the United States
Assignment: Research two periods in history, one where the United States experienced an increase in inflation and the other an increase in unemployment. Write a paper discussing the causes and outcomes.
When obama was campaiging for president in 2008 he proposed more government spending paid for with higher taxes on the rich. What impact would those options have on the equilibrium?
A material handling system was purchased 3 years ago for $120,537. Two years ago it required substantial upgrading at a cost of $14,340. It once again is requiring an upgrading cost of $24,925. Alternately, a new system can be purchased today at a co..
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area How does the assignment of property rights af..
Consider three advanced market capitalism economies
A boiler is being considered for a new process plant. The boiler can be fired either by natural gas, fuel oil, or coal. A decision must be made on which fuel to use. An analysis of the costs shows that the installed cost, with all controls, would be ..
the demand for haddock has been estimated aslog q ab log pc log i d log pmwhere q quantity of haddock sold in new
Calculate the slope of the AS curve using data in the table/graph - Explain why the AD curve has the slope you calculated as a result of the "wealth effect" - Explain why the AD curve has the slope you calculated as a result of the "wealth effect".
Discuss advantages and disadvantages of each system and explain how exchange rates are determined under each system.
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