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Q1. Manipulate demand of price elasticity. Suppose that 50 units of a good demanded at a cost of 1 / unit. A reduction in price to $.20 results in an increase in quantity demanded to 70 units. Show that these data yield a price elasticity of $0.25. Explain by what percentage (%) would a 10% rise in the price decrease the quantity demanded also assuming price elasticity remains constant along the demand curve?
Q2. Explain the connections between opportunity cost and the production possibilities frontier?
q1. what are the terms of trade if the united states trades 1 can of soda for 5 units of clothing?explain why price
In economic terms, when the wage rate increases we sometimes see the number of hours worked by individuals decrease now.
the total quantity of monthly account across all internet providers increases from 90,000 to 190,000. What is the value price elasticity of demand? Is the demand elastic or inelastic?
what is the output level does the marginal cost curve cross the average cost curve. Compute her accounting and economic profits.
Suppose the cost function is C(Q) = 50 + Q - 10Q2 + 2Q3. What is the marginal cost of producing 10 units? my teacher said it was 401 for the answer but I don't understand how he got that answer because he asked the same problem and said that answer w..
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
q. under what elasticity conditions would the following be trueincreasing the minimum wage will result in a decrease in
Describe the factors that influence the reliability of time-series forecasts. Under what circumstances would a time-series model offer a fairly reliable forecast?
Could you please explain why long run supply curve can be downward sloping and implication for behaviours of price as demand increases over long run.
how can two countries both be better off as a result of trade? how can tariffs protect u.s. jobs? do tariffs lead to a
q1. the government of new holland is experiencing lower energy costs due to new technology in extracting energy sources
Pete's report says that the demand curve will be then OmiCon will build a shopping center that optimally sized for that demand curve. But in the second scenario, if Pete's report says the demand curve will be there is a 20% chance that demand curve w..
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