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John’s dining out with his wife during the week more often. Previously they dined out twice a week, but after getting his new job, they are now dining out 5 times per week. On the other hand, they noticed that they are now purchasing 10 frozen meals per week, whereas they were purchasing 20 frozen meals per week before John got his new job. a) What is John’s income elasticity for dining out? b) What does this income elasticity tell you? What is the interpretation of the number you calculate in part (a) c) What is John’s income elasticity for frozen meals? d) What does this income elasticity tell you? What is the interpretation of the number you calculate in part (c)
Which of the following is an example of an autonomous agency of the United Nations? Which of the following is provided under the Foreign Sovereign Immunities Act? Throughout Christianity, divine and natural laws have been issued in the form of ______..
Write a essay about 300-400 words about Gross Domestic Product of Viet Nam : analysis of Viet Nam economy's GDP composition and growth over time, as well as an investigation of Viet Nam's basis for income generation and any and all constraints to gro..
When you buy 100 shares of IBM it is an investment according to economists. If consumers have few durable goods, this will lower the C line, all other things equal. A corporation is a legal person separate from the owners. Investment is more stable t..
A tariff on textiles is equivalent to a tax on consumers and a subsidy to the textile producers and workers. A tariff lowers the real income of the country, while at the same time it distributes income from the consumers to the governments and to the..
Discuss the correlations between US stock market prices and the prices of US Treasury Bonds. Some times stock prices and Treasury bond prices move in the same direction. Why? Sometimes they move in opposite directions...why would that be?
Also, assume that the “target market” has 1 Household and 1 Graphic Designer (a simple way of representing equal proportions of each type of customer). The marginal cost of production is $0. If Adobe sells only to Graphic Designers, what is the optim..
Consider the equation: NX = S + (T-G) - I, afterwards, determine what happens to: Trade balance, public saving, private saving, and investment with respect to the following cases: Government Spending Increases. Foreign Output Increases. Simultaneous ..
Inducing the worker to exert effort A worker can exert two effort levels, good or bad which induce a production error with probability 1/4 and 3/4 respectively. Calculate the optimal contract and the effort that the principal desires under conditions..
Replace the machine with a new one costing $49K. Depreciation would be SL to zero over the 7 years of its life. Operating costs would be reduced by $7Kpa.
Suppose that the U.S. government decides to levy a tax (such as an excise tax) on cola consumers. Before the tax, 20,000 cases of cola were sold every week at a price of $8 per case. after the teax,
What are some barriers a company might need to overcome when entering the global market? and What are some sources of financing for a new business? Limit your post to one source, and include some pros and cons.
q.demonstrate the demand and supply program for calculators in norway and sweden. on graph paper sketch the demand and
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