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Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?
Offer one good or service that you think would be considered highly price elastic ,one that you think is highly inelastic and Elucidate why.
Firm manufactures bicycle component upgrade kits. Kits have a short-run average variable cost of $48 and are sold for $66 each. What is breakeven level of daily output for firm.
Illustrate what conclusions can you draw about the similarities and differences between the EU and globalization.
Given the demand and cost conditions, what price, output and profits result in the short run? What will happen as the firm moves from the short to the long run
How much profit will monopolist make if she maximizes her profit. llustrate what would be value of consumer surplus if market were perfectly competitive.
Express Illustrate what will happen also why to the firm's average fixed costs, marginal costs, average costs also profits as the firm makes its choices.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Identify your fixed and variable costs at your fast food restaurant, and explain the changes to each of these costs, given the increased demand.
Elucidate the effect of capital formation by comparing the present times and ten year in the future for thtwo economic.
Explain the unemployment rate in Tappania is higher now than is has been in 50 years. Can both of those statements be true at the same time.
Elucidate the return to deficit spending since the turn of the century. Consider the causes of the deficits and surpluses and provide your own insight.
why do land cost tend to fluctuate in a free market and why taxes on land are often regarded as preferable to taxes on other factors. 700 words
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