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Q1. Illustrate what is the elasticity of demand if you raise the price of your airline's tickets by 6% also the number of tickets sold decreases by 13%?
Q2. Analyze the rise also decline of Classical Economics from Adam Smith through works of Ricardo also J.S. Mill. In the period of the decline of the Ricardian model, analyze the various reactions to Ricardian economics, including Mill's attempt to revitalize Classical Economics.
Give a detailed explanation about how the engineer's income generation as described above affects GDP and GNP of U.S.
A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive equilibrium of market.
An increase in the number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
The New York City rent stabilization law of 1969 established maximum rental rates for apartments in New York City
Any goods from all should be of higher demand than supply; the other good should show higher supply than demand.
How do your previous answers change in the special case where cash demand does not depend on the expected rate of inflation
Consider an employee who does not receive employer-based health insurance and must divide her $700 per week in after-tax income.
Which of the following possibilities is consistent with the property of diminishing marginal product.
Why might the Homo sapiens production possibilities curve have shifted outward to the right much more rapidly than those of Neanderthals.
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
Assume a household receives a grant of $500 of food stamps every month. How will this household's budget line be affected.
What are the advantages and disadvantages of regression models in comparison to using a computerized regression routine.
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