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Micro-economics Discussion Post: Examining Elasticity
After watching the Section 5.3 Review and Section 6.2 Review videos, respond to the questions below.
https://media.pearsoncmg.com/ph/bp/bp_hubbard_econ_5/sectionvid/section0503.htmlhttps://media.pearsoncmg.com/ph/bp/bp_hubbard_econ_5/sectionvid/section0602.html
Gas prices fluctuate often and in both directions. In your initial post, respond to the following:
• How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to explain your answer.
• How does the price elasticity of demand for gasoline impact the effectiveness of taxes on gasoline aimed at correcting a negative externality?
Consider incorporating the supply-and-demand model to demonstrate the elasticity of demand for gas and to show the effects of tax on the market for gas.
What is the elasticity of demand over the price range $60 to $80
Consider a market characterized by the following inverse demand and inverse supply functions: Inverse Demand: P = 10 - 2Qd Inverse Supply: P = 2 + 2Qs. Find the equilibrium price and quantity in this market.
In developing nations, young women have lower enrollment rates in secondary school than do young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
The company's objective is to minimize the cost of transporting its product from plants to ports while fulfilling its daily overseas shipping requirements. Formulate the appropriate LP problem.
How is the law of diminishing returns reflected in the shape of the total product curve and what is the relationship between diminishing returns and the stages of production?
Answer the following concerning the benefits and costs of labor pooling:
critically analyze the present system of providing medical care in the u. s. are there any distortions in incentives in
assume that you are going to open up a lemonade stand. you have savings in cash of 100 to begin your venture. you
Submit an international marketing plan on a product (good, service, or idea) approved by the course instructor, integrating the components listed below as the basis for the paper. Describe the product, its features, and benefits.
Consider the production function Q=100L^.5K^.4. Suppose L=1 and K=1 so that Q=100. Explain the nature of returns to scale for this production function.
Explain it in depth like the last time.
the small three-story brick building was slowly being dwarfed by the new gleaming white brick-and-glass office and
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