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Identify two (2) elastic and two (2) inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.
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The following shows the demands and marginal revenue in two markets, 1 and 2, for a price discriminating firm along with total marginal revenue, MRT, and marginal cost MC: Compare the demand conditions in each market; i.e. how do the two markets diff..
Depreciable residential rental real property has been purchased for $70,000 and put into service during the third month of the taxpayer's tax year. For the applicable 27.5 year depreciation life, determine the allowable straight line depreciation ded..
Remaining group did not have jobs, except all said they would like one. 5 of this group had not looked actively for work for 3 months.
You bought a call option with a strike price of $35. What is your total payoff on this option contract if the underlying stock is selling for $36.70 on the option expiration date? You purchased a call option with a $22.50 strike price and a call prem..
Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Portland cement is produced in large coal-fired kilns, so Portland cement producers use a la..
Explain how many bushels of corn are purchased by consumers and at what price. How many bushels of corn are purchased by the government and at what price.
State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads.
Why is the financial system of a country important for long-run economic growth? Firms care about their after tax return on investment projects. Consider the following data for closed economy
Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if I changes to 10? What does this outcome reveal about the size of the multiplier?
Elucidate how much the last input added to the total amount of revenue. Elucidate how much the last input added to the total amount of production.
Suppose the production function for coffee (C) is C = min(B,W) where B = beans in pounds and W = water in gallons and the price of water is $.10 per gallon and the price of beans is $10 per pound. the cost minimizing combination of beans and water fo..
Explain the connection between the vertical long-run aggregate supply curve and the vertical long-run Phillips curve.
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