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Q 1
What is economics? What role does economics play in your personal and organizations decisions? Give an example of the role of economics in decision making. Q 2What is the difference between a movement along and shift of the demand curve? Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand, (2) an increase in supply, (3) an increase in both supply and demand. Give an example of the role of supply and demand in decision making. Q 3What is the definition of price elasticity of demand? Explain the relationship between price elasticity and total revenue? How does price elasticity of demand affect a firm's pricing decisions? How does the availability of substitutes affect price elasticity of demand? Provide examples.
One way to reduce the amount consumers spend on health care is to raise the price of health care by increasing the health insurance copayment
A geothermal heat pump can save up to 80 percent of the annual heating and cooling bills of a certain home in the north-eastern U.S. in this region, the yearly cost of conventionally cooling and heating a 2,000 square foot house is about $2,500.
In the monopolistic competition model, would you expect prices to be higher or lower as the number of firm increases? Briefly explain why.
Normal 0 false false false EN-US X-NONE X-NONE The consumption function is ..
Describe two economic examples of issues that affect our decision-making processes and that may change our quality of life.
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
southwest airlines is by far the low cost carrier on the sacramento to los angeles air travel route. their marginal
Buddy operates a handyman business performing various home repairs and renovations. Buddy is successful and has enough loyal customers to keep him busy, along with at least two workers. Buddy occasionally rents out some of his small equipment to othe..
Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..
reserve requirement for banks is set at 5. your firm withdraws 42000 on its line of credit at the security bank to
According to this week s lecture, there are two types of inflation (demand pull and cost push). Which countries are experiencing a demand pull inflation? ? You may need to complete additional research to determine the inflation type for each country.
suppose that the percentage annual return you obtain when you invest a dollar in gold or the stock market is dependent
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