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Calculate the price elasticity for each of the following combination of price and quantity supplied. In each case, determine whether supply is elastic, inelastic, perfectly inelastic, or unit elastic in each case. (a) Price falls from $2.25 to $1.75; quantity supllied falls from 600units to 400 units. (b) price falls from $2.25 to$1.75 quantity supplied falls from 600 units 500 units (c) Price falls from $2.25 to $1.75; quantity supplied remains at 600 units. (d) price increases from $1.75 to $2.25; quantity supplied increases from 466.67 units to 600
The Clean Air Act, a federal statute, establishes national air pollution standards for fleet vehicles such as buses, taxicabs, and trucks. The South Coast Air Quality Management District (South Coast) is a political entity of the state of California...
Compute nominal GDP, real GDP also the GDP deflator for each year, using 20010 as the base year.
In September 2012, the New York City Board of Health approved Mayor Michael Bloomberg's proposal to ban the sale of large sugary drinks in restaurants and other venues in an attempt to reduce obesity and promote more healthful living. How do you thin..
Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural unemployment rate and expected inflation rate, discuss which is worse, too much inflation or too much unempl..
The practice manager confides in you that the practice’s finances are not in good order and they are unsure how they will be able to implement the comprehensive diabetic care management program without adequate resources. Who needs to be given opport..
Suppose that there is no growth in real GDP and inflation is equal to -2% per year. (Negative inflation is the same as deflation.) Measured in ducats, illustrate what will GDP be equal to next year.
Consider a perfectly competitive market where demand is given by P=84.20-2.15Q and supply is given by P=12.78+1.20Q. Calculate the equilibrium quantity.
calculate the breakeven cost of the above air-conditioner with condenser using evaporative cooling if the MARR is 8% p.a.
Assume that the Fed decided engages in an open market purchase of $100 million dollars. If the required reserve ratio is 10%, and if banks hold an additional 2% of their assets in bonds, calculate the total change in the money supply.
You have a gross income of $12029 in 2014. You filing status is single. You do not itemize deductions and you are allowed 1 exemption. What is your federal tax bill, assuming no phaseout of personal exemptions based on income?
Please explain “opportunity cost” and give three examples from your own life. Please include and identify both “explicit” and “implicit” costs in your examples.
Anna spent two thirds of her instance sewing dresses, and the other third of her time doing administrative work. Prepare Balance Sheet for Manning Style.
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