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Good 1 is a normal good and good 2 is an inferior good. Using 3 budget lines and 2 indifference curves, illustrate the effect of an increase in P2 on the consumption of both x1 and x2. Label income and substitution effects for both goods.
Elucidate how does the Demand curve faced by a monopolist differ from the Demand curve faced by a perfectly competitive firm.
Illustrate what is the effect of the price increase on revenue at the YSU campus store. Calculate the price elasticity of demand for Bottom Feeder Tacos using the mid-point formula.
A man buys a corporate bond from a bond brokerage house for $925. The bond has a face value of $1000 and pays 4% of its face value each year. I f the bond will be paid off in at the end of 10 years , what rate of return will the man receive?
which limits amount of goods they can purchase. Preference Consumers always choose goods which give most pleasure. So how do we measure about pleasure.
Illustrate what change in the economic enviJorgement led to this new equilibrium.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
Illustrate what is the economy's MPC? It's MPS. Illustrate what was the APC before the increase in disposable income.
He proposed an increased in ethanol produced from corn and the stalks and leaves from corn and other grasses. Illustrate what is the likely impact of these two events on food prices in the United States.
A company operating in a purely competitive environment is faced with a market price of $250. The company total cost function (short run) is
Using appropriate diagrams and notations,carefully explain the relationship b/n elasticity, total revenue and marginal revenue. 2,discuss the uses of elasticity of demand.
Illustrate what type of organization has a high fixed cost and low variable cost balance to run its operations. Discuss the balance of fixed and variable costs for the organization.
Suppose that a second worker became available. Elucidtae the resulting change in production possibilities. Now what would be the opportunity cost of sanding two floors.
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