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1. The price elasticity of crude oil is.
1. What is the equilibrium price if demand is reduced by half?
2. Due to El Nino, the price of palay increased by 15%; hence people reduced their demand to 20%.
3. The price of Shookt-to-go's Lechon Manok increases from 200 to 210; hence the consumers opted to buy Antok's chicken, increasing its demand by 25%.
4. Due to Covid-19, Leo only earned 100 pesos from 150 pesos daily earnings as a tricycle driver; therefore, he reduced his cigarette consumption from 6 sticks to 3 cigarettes every day.
5. Rosemarie increased his stocks of the facemask to 7% after he heard that its price would increase by 13%.
Illustrate what did he know about costing to the chain store representative was overlooking. Be sure to describe or chart the shape of Morita's costing.
What determines the composition of national output? In some cases, we say that there is "consumer sovereignty." meaning that consumers decide how to spend their incomes on the basis of their tastes and market prices. In other cases, decisions are mad..
Which of the following tends to make aggregate demand shift right farther than the amount that government expenditures increase?
a. Find the aggregate expenditure function and equilibrium level of GDP. b. Using a "Keynesian cross" (or 45-degree line) diagram, show graphically
During the war, the same arms merchant often sells weapons to both sides of the conflict. In this situation, a different price could be offered to each side because there is no danger of resale. Suppose a US arms merchant has a monopoly of a special ..
How can businesses use technology and relationships to reduce their environmental impact?
Suppose the Consumption function changes to C=600 +.75(Y-T) - 30(r). 1)The new value of equilibrium output is =
Price of a commodity is argued to be the most important factor that determines whether consumer buys more or less of a commodity.
Which of the following changes would shift the demand curve for a good or service?
How did increased competition and excess capacity impact firms in consumer goods industry in late 19th century. Why were horizontal mergers attractive to these firms.
Compare the primary available economic resources that health insurance payers may use to monitor, assess, and regulate health care providers' behavior.
How markets allocate resources. Derived demand is the change in demand due to a result initiated in another market. Market changes affect the demand for resources in related markets. For the following scenario, you are given a list of products.
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