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Per capita income in County A is $45,000. Per capita income in County B is $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B.
What is the percent change in the demand for visits?
What is the income elasticity for visits?
During the same time, total annual movie admissions have barely changed. What cost factors can explain this trend? In addition, what demand factors might be also be relevant?
Suppose further that the MCP is 0,8 if the government wants to increase the real GDP to 2000 billions, by how much should the government increase /decrease its lump-sum taxes? Assume the price level is fixed.
One of the major reasons that foreign expatriates have difficulty doing business in the United States is that they do not understand American slang. A business executive recently gave the authors the following three examples of statements that had no..
What would be the resulting effect on equilibrium price level? Explain. What will be the effect of the different tools of fiscal policy to stabilize the economy?
Political scientist Garry Wills stated if leader is just an expediter of what other people wish, a resource for their use, the people are not being led but serviced.
Demand for a good is Qd = 20,000, 100 P. Supply is Qs = -1000 + 200 P. a. Find Q*, P*, consumer surplus, producer surplus, and total variable costs. Make a graph and label it. b. What is the elasticity of supply at the solution point? What is the ela..
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price i..
Suppose each government has a target level of output of 125 and that each government increases government spending by the same amount.
Explain which technology would you advise the CEO of Defendo to adopt given the threat of possible entry. Also what will be the Defendo's profit given his choice.
At an interest rate of 8%, determine the capitalized cost of the facility, assuming that it will be used for an indefinite period.
TT Drinks Company was established a hundred years ago and currently employs over 300 people. The company produces and sells a range of black, green and flavoured teas and fruit infusions. TT's last Director of Marketing was away from work with illnes..
Elucidate fully why the monopolist will never choose to operate where the demand curve is inelastic.
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