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Suppose that during the past year tv fell from $2000 to $1800 per tv sales increased from 700000 to 800000 tv. calculate elasticity of demand. follow steps find original quantity new quantity average quantity change in quantity percentage change. original price, new price, average price, change in price, percentage change
Elucidate how would you express the demand for clothing also footwear. Risks involved holds the most risk to the subcontractor.
Suppose the current price of gasoline at the pump is $1 per gallon and that 1 million gallons are sold per month. A politician proposes to add a 10¢ tax to the price of a gallon of gasoline.
Decrease DEMAND (finding alternatives to oil). Graph how these two changes will bring about lower gas prices. Which school of thought do you subscribe to?
The world becomes a single market, some new approach must be developed to control the reach of the corporate oligopolies.
Elucidate how much the last input added to the total amount of revenue. Elucidate how much the last input added to the total amount of production.
A tropical country can produce winter coats, but there is no domestic demand for these coats. Explain how this country can gain from free trade in winter coats.
Provide an example of income effect and substitution effect in regards to supply of labour. Illustrate what is opportunity cost of work in this case
Elucidate how might this allocation under allocation get resolved via the means suggested by the coase theorem.
What is a production function Product. How are they related. Related to each or and to output Long- run. What are economies of scale.
Write down the budget constraint of the representative consumer and Write down the maximization problem of the representative consumer and find labor supply
Illustrate the expected total monetary loss under 4% of annual interest rate if this park is permanently closed this year.
Explain how would you test the hypothesis that the two population means are the same.
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