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Q. Suppose the general demand equation for good X is QX = 100 - 8PX + 6PY - M. If PX = $4, PY = $2, and M = $10, what is the cross-price elasticity of good X with respect to the price of good y?
Q. Illustrate what happens to the marginal product of each individual factor as that factor is increased, and the other factor is held constant?
Suppose that tax and aggregate expenditur income for an economy. Illustrate what is the change in taxes cause by an increase in government spending.
Illustrate what are the laws governing "involuntary treatment" in state of Pennsylvania? Describe the process who makes the decisions, how long the treatment can last, etc, for state of PA.
Explicate why the government expenditure multiplier is different from the tax multiplier.
Illustrate what do your previous answers imply for the price of haircuts relative to the price of food.
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
During this time period, a weather phenomenon called the Dust Bowl also occurred. Conduct an Internet search on The Dust Bowl to discover more about it.
His parents claimed that hospital doctors administered excessive oxygen to the baby and that this caused the blindness.
Illustrate what price-quantity comb I country maximizes your firm's profits. Is Demand elastic, inelastic or unit elastic at the profit-maximizing price-quantity combination.
calculate the price elasticity of demand for each product and compare with your teammates' elasticities.
Suppose the market for wheat is perfectly competitive. Fed up with low prices, a wheat grower in Texas decides he won't take his output to market and, instead, dumps all his wheat into the Red River. What happens to the market price of wheat?
Illustrate what is payback period method of investment. Explain how it can be applied to choose among investment project.
An industry consists of three firms with sales of $200,000, $500,000, and $400,000. Compute the Herfindahl-Hirschman index.
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