Identify two elastic and two inelastic goods

Assignment Help Business Economics
Reference no: EM13853921

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.

Verified Expert

Reference no: EM13853921

Questions Cloud

Discuss boycott of the college bookstore : Should the United States pull out of NAFTA? Explain why we should or why we should not. A group at your school has called a meeting to discuss a boycott of the college bookstore if it continues selling clothing made with sweatshop labor. Would you su..
Describe a feature of versailles that presents the palace : Describe a feature of Versailles that presents the palace as a symbol of absolute monarchy. Use the text as a source. .Peter Paul Rubens was one of Louis XIV's favorite artists.
Why trade barriers have come down in recent decades : Explain how and why trade barriers have come down in recent decades. List the reasons why our trade deficit has grown so quickly since the mid-1990s. What can we do to help bring it down? Explain how international trade (exports and imports) affects ..
Preparing a schedule of cash flows from operating activities : Preparing a Schedule of Cash Flows from Operating Activities: Indirect Method For the year ended June 30, 2014, net income for Flake Corporation was $14,800.
Identify two elastic and two inelastic goods : Identify two elastic and two inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.
Describe the growth of economic role of federal government : Describe the growth of the economic role of the federal government since the 1930s. Give two examples of public goods or services that you use. If you could order a cut of $100 billion in federal spending, which programs would you cut and why would y..
Identify a current business topic and craft : The purpose of your course project is to identify a current business topic and craft, In 1-3 pages, prepare a research proposal that includes the following: Identify your chosen topic for your research paper and the reason that you selected this topi..
What effects does this have on the equilibrium real wage : Suppose that there preventative consumer’s preferences change, in that his or her marginal rate of substitution of leisure for consumption in- creases for any quantities of consumption and leisure. Explain what this change in preferences means in mor..
Domestic investment in an economy : If domestic investment in an economy is smaller tha the economy's private domestic savings

Reviews

Write a Review

Business Economics Questions & Answers

  Markets differ in their demand for the firms product

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..

  Determine the allowable straight line depreciation deduction

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..

  Number of unemployed workers

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.

  What is the percentage return on your investment

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..

  What is the effect of an increase in coal prices in market

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

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.

  Economic principles of taxation

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.

  After tax return on investment project

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

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?

  Last input added to the total amount of revenue

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.

  The cost minimizing combination of beans and water

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..

  Vertical long-run aggregate supply curve

Explain the connection between the vertical long-run aggregate supply curve and the vertical long-run Phillips curve.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd