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Suppose there are two goods, good C and good D. the cross-price elasticity of demand for these two goods is equal to - 0.8.
a. What is the relationship between good C and good D? Explain your answer.
b. Given that the cross price elasticity of demand is positive and you as a shop owner would like to sell more units of one of these goods. What do you hope will happen to the price of the other good? Explain your answer
The dating service's owner said that the difference in price compensated for inequities in pay scales between men and women. Which of the following statements below is an alternative explanation that an economist would look for.
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For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
What do we call Adam smith's second theory of value. the value of a good "to those who possess it, and who want to exchange it for some new productions, is precisely equal to the quantity of labour which it can enable them to purchase or command?"
What is the mechanism by which the central bank announcing an inflation target translates into an actual inflation rate and how would your answer to q1 change if households had rational expectations
What role does economics play in your personal and professional lives and what is the difference between real and nominal GDP?
1.suppose the equilibrium price in a competitive price taker market is 10 and a firm in the industry charges 9 which of
A tax on the crops of blue-eyed soybean farmers over the age of 47 who reside in northwest lowa will fall chiefly on consumers of soybeans if the market demand curve for soybeans is highly inelastic.
Short essay responses should of at least 300 words Please use intro, body and conclusion format. Minimum of 2 sources each for a total of 4. Has to be submitted through turnitin.com for a plagiarism check. What are the differences between the Hous..
After two years the City of Plentiful is faced with a fiscal crisis and decides that it wants its garbage back.
An online store that has been successfully growing on its initial angel investment and revenues wants to invest $5 million to expand the business.
In the United States, the "people" are supposed to rule. However, the "people" are divided into many different groups, based on religion, geography, gender, age, and so forth. To what degree do racial, ethnic, regional, and other identities shape ..
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