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1.If a 3-percent increase in the price of corn flakes causes a 6-percent decline in the quantity demanded, what is the elasticity of demand?
2.Explain the difference between shift in the supply curve and a movement along the supply curve.
3.Explain w y for many goods, the long-run price elasticity of supply is larger than the short-run elasticity.
Completion of import documents needed for entry into the U.S. to include the tariff classification number and impacted duty rates or fees. Potential dumping issues (i.e. predatory pricing with knockoff products: when manufacturers export a product..
Research and evaluate sustainability economic and sustainable agriculture and evaluating a current or proposed government (local, state, national, international) policy and determining whether it is economically sound.
Differentiate the expenditure versus income approach to GDP and discuss why are the results the same? What are some of the drawbacks of using GDP while doing international comparisons among countries?
Two small open economies, Fixed and Flex, can be described by the Mundell-Fleming model.
What do you think about the most important determinants that impact demand for banking industry's product or service and determine the impacts of innovation and technology on the cost of production?
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
You are the marketing manager for ABC Tires. The manufacturer of the newest 4-wheel drive tire, Torso, is working with you to create an integrated marketing campaign to reach your customers. What would be the first step in reaching your prospectiv..
The President of US is suggesting increased spending for a missile defense system and also proposing a major long term tax cut. Provide some predictions of possible outcomes for the federal budget categories,
When a perfectly competitive firm finds that its market price is below its minimum average variable cost, it will sella. any positive output the entrepreneur decides upon because all of it can be sold. b. nothing at all; the firm shuts down c. the ou..
the company ABC Inc. bought a machine for automatic playback of " software " at a cost of $ 20,000 ( the "original cost" ) . The expectation was that the machine had a useful life of 5 years , after which have a residual value of $ 5,000 ( "salvage v..
How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?
Describe the difference between a movement along the demand curve and a shift in demand and determine what factors cause the supply curve to shift? describe each factor.
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