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Assume that Melanie had 200000 of disposable income and spent 180,000 on consumption in 2006 and had 300,000 of disposable income and spent 240,000 on consumption in 2007
If Melanie's went up to 400,000 in 2008 how munch would she be likely to spend on consumption that year?Ans: 300,000â?¦..how do you get 300,000?
If melanie's income went down to 100,000 in 2008 how much would she be likely to spend on consumption that year?
Bridget has limited income and consumes only wine and cheese; her current consumption choice is four bottles of wine and 10 pounds of cheese.
Compute the cross-price elasticity of demand between goods X and Y at the given prices.
Does the transaction of a buyer also seller directly affect a third party. Is the effect a negative or positive externality.
Consider a market-clearing economy in which output (Y 1 )depends only on the capital stock (k 1 ) and an exogenous productivity variable ( θ1 ) according to the production function y1 = θ 2 f(k 2 ).
For which of the subsiquent items will the advertising elasticity of demand be relatively higher.
Illustrate in the graph below the deadweight loss (DWL) that would result if this monopolist were allowed to operate as a profit maximizing firm without regulation.
Illustrate what role does economics play in your personal decisions and or those of your organization.
Discuss the relationship between each of the following variables based on the experience of U.S. economy over the past 30 years.
Illustrate what happens in the market for apartments when the government institutes a price ceiling that is lower than the market price. What could be some actions taken by renters and landlords when dealing with a price ceiling.
Explain how changing interest rates will affect investment spending, equilibrium output, and prices. Also, could do a brief discussion of the money multiplier and how it relates to the Fed's activities.
With an expanded strategic analysis of your organization it is time to turn to your workers and understand their views.
Elucidate whether the following statements are positive or normative economic statements, and explain why you categorized them in that way.
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