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a) Determine the market equilibrium price if the demand and supply function is given as:
D = 12p + 8S = 14p - 4
Where D= demand
S=supplyp= price
b) Determine the equilibrium quantity if price is the same as above
D = 4p - 4qS = 8q - 4p
S=supplyp= priceq= quantity
a) Suppose the monthly income of an individual increases from Rs 20,000 to Rs 25,000 which increases his demand for clothes from 40 units to 60 units. Calculate the income elasticity of demand.
b) Quantity demanded for tea has increased from 300 to 400 units with an increase in the price of the coffee powder from Rs 25 to Rs 35. Calculate the cross elasticity of demand between tea and coffee.
A few years ago a construction manager earning $70,000 every year working for a regional home builder decided to open his own home building company.
Scott Jensen owned two hundred acres of farmland in California. A creek flowed through the land, and Jensen used water from the creek to irrigate his crops. The water was adequate for his needs. apply stare decisis and divide the water rights because..
Why might it be hypothesized that a typical developed country is likely to have a greater relative amount of intra-industry trade than is a typical developing country? Explain.
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Rather than look at the effect on the "competitiveness" of the dominant firm, should the Commission have not also considered the effect of the dominant firm's conduct on efficiency?
If a price taker in a competitive market is going to maximize profits, he must
Does the concept of technological efficiency permit us to determine at which point on an isoquant a firm should operate.
A Framework for Ethical Decision Making
Multiplier effects are stronger if
Indifference curves- Are contour lines only of a linear utility function?
Illustrate which of the following is an example of the legal-regulatory environment surrounding advertising also promotional activities of businesses.
q1. suppose that disposable income consumption and saving in some country are 200 billion 150 billion and 50 billion
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