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the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8.
How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent?
Examine the tools of fiscal policy also explain how they are used to reduce inflation or eliminate a recession.
Could a nation's production possibilities curve shift outward? Describe what such a shift would mean, and discuss at least two events that might reasone such a shift to occur.
Illustrate how you would use the rest of the information above to better assess the impact of the influx of immigrants.
Dairy farm Industry a small producer of milk and cheese, has estimated the quantities of milk.
Suppose that the town council needs to raise $300,000 in revenue and decides to do this by taxing the cigarette market. What should the excise tax be in order to raise the required amount of money?
Explain how each of the following scenarios would cause the aggregate demand, short-run aggregate supply, and/or long-run aggregate supply.
Discuss how your answer relates to the income and substitution effects of a price change from Knoxville food prices to Berkeley food prices.
Determine which of the following is the best example of two inputs that would exhibit a constant marginal rate of technical substitution?
Quantity of pizzas demanded soared he following week from 1 pie an hour to 100 pies an hour. Illustrate what was the price elasticity of demand for Domino's pizza.
In most developing countries, there are long lines of taxis at airports, and these taxis often wait two or three hours. Illustrate what does this tell you about the price in the market. Carefully Explain with supply and demand analysis.
Should a country's income be distributed to its members based on their contributions to production of that total income or according to the member's requires?
Illustrate what is the present value of a contract that promises to make year end payments to you of $100 for the next 20 years if the interest rate is 5%.
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