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The price elasticity of demand for coke is -0.24. The price elasticity of supply for coke is 0.36. The income elasticity of demand for coke is 0.8. The equilibrium quantity is 37.95 metric tons, equilibrium price is $ 207 per metric ton and the average household income is $ 58,000.
a) Find the demand equation for coke
b) If a recession causes average household income to fall to $ 51,000, what will the resulting change in quantity for coke be?
Suppose the Fed decided to purchase $50 billion worth of government securities in the open market. What impact would this action have on the economy? Specifically, answer the following questions:
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Tony decided to visit his parent in San Diego during the long weekend. He has two options.
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$150,000 is deposited in a fund that pays 5% annual compound interest for 2 years, 3% annual compound interest for 2 years, and 4% annual compound interest for 2 years. If uniform annual withdrawals occur over the 6-year period, what will be the magn..
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Calculate dy/dx for dU = 0 - that is, what is the implied trade-off between x and y holding U constant?
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Show all work. The answer must include PAINFGP = Present value (this value is not used in this problem) and the cash flow diagrams.
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