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Question: Do you think that the price elasticity of demand for cooking oil differs between low-income and high-income consumers? Why? (Clearly articulate your answer using economic logic gained from the textbook in at least two full sentences).
Compute the descriptive statistics for the data and comment on the results. Test for stationarity of the variables and comment on the results
Explain how each of the following will affect the economy, by analyzing each case in an SRAS-AD diagram and determine in each case the effects on real GDP and the general price level:
We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. For example if a company's sales are growing at a rate of 20% per year, approximately how long will it take sales to triple?
What kind of market is your firm in? Describe a feature that identifies it in the Market. Briefly describe the managerial action you would take and why.
Two laws that affect the operations of labor markets are the minimum wage law and the right to work law (where a person can choose to join a union). Who benefits and who loses from each of these laws. Give at least two examples each.
Should the EU changes the fiscal policies to have only one policy? Why or why not?
identify a specific company in that industry and identify the key drivers of competition for that industry and specifically for the selected company.
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 78 - 15Q, where Q = Q1 + Q2. The marginal cost associated with producing in the two plants are MC1 = 3Q1 and MC2 = 2Q2. What price should be c..
Fiscal policy changes automatically when output and employment fluctuate a. Explain why tax revenue changes during a recession b. Explain why government spending changes during a recession c. If the federal government was required to operate under a ..
Suppose that Dr. Stone brewery could use recliamed municipal water waste water to make beer instead of the municipal water that is currently being used. this will help conserve limited fresh water resources and reduce the brewery's annual water bill...
Consider a linear city whose (adult) population of 1 million is uniformly distributed over the interval [0; 5]. There is a monopoly operator of cinemas.
Suppose a union that represents some but not all of the employees in an industry is considering a strong push for increased pay for their members during the upcoming contract negotiations. What factors should the union investigate in order to address..
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