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Studies indicate that the price elasticity of demand for cigarettes is about -0.4.If a pack of cigarettes currently costs $2.0 and the government wants to reduce smoking by 20%, by how much should it increase the price?
Why the characteristics of the labor marketplaces should result in the same wage rate for all jobs requiring the same level of abilities and skills.
The kinked demand curve in an oligopolistic market is defined by the equations: P = 140 - 0.5Q, and P = 200 - 2Q. a) Derive equations for the marginal revenue curves. b) Determine the price and quantity at the "kink" of the demand curve.
Describe or give example of a real-world dilemma where these six principles could be applied. 1. Understanding each dimension of the problem 2. Who would benefit/suffer 3. Alternative solutions legal/fair 4. Your "gut feeling" level 5. Defend your de..
l. How can you tell that this is not the long-run least cost of producing this level of output m. How would the firm adjust its labor and capital usage to produce this level of output at least cost in the long-run
Over the past recent months it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month.
Total population coincides with total workers and is denoted by L and compute the Solow residual and describe clearly the changes that occur to the graph and compare the final result with the initial situation
You have been Employed through a private consortium of South African orange growers to predict the impact on the price and output of oranges under the following situation.
What is the implication for the expected value and standard deviation of the returns on your portfolio if you invest in N (instead of only 3) of these assets and N becomes very large?
What happens when supply is totally elastic or totally inelastic, and a subsidy is given by the government: Will the producer change the amount of units he’s supplying to the market? And will the price received by the producer be reduced
How rapidly has the money supply (M1) grown during the past twelve months State the rate of growth and the most recent release, use the seasonally adjusted figures. Calculate the rate of growth across the year.
Explain how does each of the following affect the aggregate demand curve?
Suppose at current factor prices a country's manufactures use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy's total resources are 1800 hours of labor and 180 acres o..
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