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During the past year, the average price of lots along Lake Michigan in Carol Beach rose from $2,500 to $3,000 per foot of lake front. At the same time, sales of new homes located off the Lake rose from 40 to 70 units.
a. Calculate the cross elasticity of demand. EC=
b. Are lake front lots and new home lots off the lake compliments or substitutes. Type in either substitutes or compliments.
assume that the price of silk ties in a perfectly competitive market is 19 and that the typicalnbspfirm confronts the
What is property according to Chris Hann and why are property rights the foundation of hunter/gatherer societies as argued by Barnard and Woodburn What is the significance of sharing among immediate-return foraging societies.
BudgetSurplus: The amount by which government revenues exceedgovernment expenditures in a given year. PublicDebt: The total accumulation of the FederalGovernment's total deficits and surpluses which have occurredthrough time.
question 1 what are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the
The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing rice, exporting steel, and neither importing nor exporting TVs. We can conclude..
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls.
Please make a Positioning map for (Kraft) Yuban coffee without using price or quality as attributes. The competitors are JM Smucker, Nestle, Starbucks, Green Mountain and Sara Lee.
Why is productivity related to the standard of living In your answer be sure to explain what productivity an standard of living mean. Make a list of things that determine labor productivity.
Why do people hold their wealth in the form of money rather than another asset that will provide a rate of return higher that the rate on return
The crowding-in effect depends on the sensitivity of investment
in a competitive market the market demand is qd 400 - 5p and the market supply is qs 10p - 80. a price ceiling of 32
At which rate will there be an excess supply of money? What does this mean? Describe in detail the adjustment process in the money market when there is an excess demand for money.
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