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What do you call it when the quantity demanded of a good falls when the price of a good rises, other things are equal?
What sales per 7-11 store will maximize profit, P(x)? What is the marginal average profit function, per store? (hint: P ′(x) = d P (x) dx).
List and discuss the benefits of using the expenditure approach to measuring GDP. What does it measure well, and what things are not measured by GDP but are still important in our lives?
Aztec depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising-What is Aztec's elasticity of demand for advertising?
If there are 150 million people in the labor force and 10 million of them do not have jobs but have looked for work in the last month what is the unemployment rate? 2)If next month 5 million people who have been discouraged workers start looking fo..
Using aggregate demand, short run aggregate supply and long runaggregate supply curves, explain the process by which each of the following economic events will move the economy from one long run macroeconomic equilibrium to another.
When the productivity index is moved from 0% to 25% Total product increases and the marginal cost decreases. Can someone explain to me why this happens?
Describe why the understatement of inventory by 66,000 at then end of 2004 results in an understatement of equity by same amount in that year.
suppose you are the production manager for widgets inc. your job is to produce a fixed amount of output at the lowest
The supply curve S1 and the demand curve D indicate initial conditions in the market for gasoline. A $.60-per-gallon excise tax on gasoline is levied, which shifts the supply curve from S1 to S2. Which of the following states the actual burden of ..
Discuss and explain how exchange rates are determined using supply and demand. Provide some examples. Determine the current exchange rate of the United States to Japan, Canada, Germany, and Mexico currencies?
Sara's income is $12 a week. The price of popcorn is $3 a bag, and the price of a cola is $3 a can. a. What is Sara's real income in terms of cola? b. What is her real income in terms of popcorn?
When figuring the number of people unemployed, is it the laborforce - the number of employed adults What abou adults in the military the nonadult population institutionalized adults and nonmilitary, non institutionalized adults not in the labor fo..
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