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A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded by 3 percent. What is the cross price elasticity of demand? Are tablet devices and digital apps complements or substitutes?
Write a short essay, using the market failure analysis, to justify why the U.S. government should or should not be involved in the provision of (1) airport security and (2) medical care.
q1. according to a study of u.s. cigarette sales between 1955 and 1985 when the price of cigarettes was 1 higher
most powerful people in the world might be measured more powerful than most countries leaders
A firm has a production function represented by: q=L^(.75)K^(.25). Find a function for how much capital and labor a firm should hire to produce a given level of production in terms of the price of labor, w, and the price capital, r.
A trucking company computes depreciation on its vehicles by a mileage basis. Suppose a delivery truck has a cost of $20,000, a salvage value of $2,000, and an estimated useful life of 200,000 miles. Determine the depreciation rate per mile.
If the reserve ratio set by the Federal Reserve is 20% then what is the deposit multiplier? Your answer is-----. If the initial total reserves were 200 what level of total deposits the banking system can create? (Assume it is the simple banking syste..
In recent years, Bolivia, Russia, and Turkey have had much higher nominal interest rates than Canada, while Japan has had lower nominal interest rates. What would you predict is true about money growth in these other countries? Why?
An economy consists of three workers: Larry, Moe, and Curly. Each works for ten hours per day and can produce two services: Mowing lawns and washing cars. Calculate how much of each service is produced under the following circumstances. You can use a..
The overall population for Region A is 95 million people. The labor force contains 67 million people. 32 million people are employed, while 35 million are unemployed. What is the unemployment rate? Round your answer to the nearest whole number.
Janie deposits $10,000 in the bank today. Starting 3 years from now, she makes equal withdrawals of $1,00 for 5 years and then withdraws the remaining amount 10 years from now. How much will she be able to withdraw 10 years from now, assuming the ban..
Paper creates a fundamental contradiction. Your task was to recommend policies to protect the industry in the event of the next economic crisis. Your main recommendation was to open the industry and allow more competitors into the industry.
Which of the following occurs when a market is efficient?
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