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In October 2020 a pound of apples cost $1.32, while oranges cost $1.59. Three years earlier the price of apples was only $1.36 a pound and that of oranges was $1.51 a pound.
a. What was the annual compound rate of growth in the price of apples and oranges?
b. If the same rates of growth persist in the future, what will be the price of apples and oranges in 2030?
Find the cross price elasticity of demand for steak, using the arc-elasticity formula. Are steak and lobster substitutes, complements or neither
The applicants are scheduled at quarter-hour intervals, beginning at 8:00 A.M., and the applicants arrive exactly on time. When the applicant with an 8:15 A.M. appointment arrives at the manager's office, what is the probability that he will have ..
Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). Complete the column labeled Market
Suppose you have just been appointed to a high level position in the economic analysis unit of the State Department. The secretary of state has asked you to prepare a memo describing the key policies and economic arrangements that a specific less..
To hear a synopsis of the 2008-09 credit crisis. Listen to the radio show This American Life entitled "The Giant Pool of Money" on May 9, 2008 (#355).
(1) Derive the short run demand for input 1 and the short run supply.
n your analysis, critically discuss and evaluate the current organizational behavior practices and relate the day to day issues of organizational behavior to basic dilemmas and tensions.
Suppose the price elasticity of machinery exports in international markets is 2/3, and the dollar is overvalued by 30%, so those exports drop 20%.
Suppose instead that the goverment wished to raise GDP to 7,100, but it was unwilling to run a surplus or deficit. Therefore the change in government purchases would have to be matched by and equal change in taxes. What change in government purcha..
On a supply and demand chart, what would the slopes have to look like for a consumer to pay the whole amount of an excise tax equal to exactly the cost of the tax instead of splitting it with a producer?
After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is
The C$ declined an average of more than 3% per year relative to the US$ during the 1990s, yet the inflation rate in Canada was almost 1% lower.
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