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This week, you need to refer again to the economic data of the country you chose and relate it to week 3's material. Specifically, you need to respond to the following questions:
Each week your assignment must be in a Word document format, so remember to use paragraphs and a report structure.
Suppose that new entry decreased your demand elasticity from -2 to -3 (made demand more elastic). By how much should you adjuct your price of $10?
Using appropriate diagrams, explain the likely impact of drought on macroeconomic equilibrium in Australia. Use evidence drawn from media reports to illustrate.
How might you evaluate the claim by developing countries that they are at a disadvantage in trade with powerful industrialized countries?
Suppose that as the price of coffee falls from $2.00 to $1.90, the quantity of coffee demanded increases from 110 to 118. Calculate the price elasticity of demand. Need to show steps used
Using the AS-AD model, show how the following events will impact real GDP and price level in Canada in the short run.
A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and the averagecosts are $65. At what price would the firm consider shutting down in the short run?
Describe the economic implications for the United States of the rise of China and India as significant economic powers.
In a at least two page long report showing your thinking (not quotes) discuss one major idea from the Macroeconomics as reviewed in the textbook, class lectures or discussion that answers this question:
Simpson's Scuba Company is a manufacturer and retailer of scuba machine. Currently, the Company has no coordinated cash management system, and the firm's management has decided to focus on ways to improve the cash collection process.
Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved t..
All economies, no matter what their form of economic organization, must address what are known as the "three fundamental questions:"
Demonstrate the short-run profit maximizing equilibrium graphically for a sports team facing a negatively sloped linear demand with a short-run total cost function of the form;
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