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Your Best Brand Bike Shorts-BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, the taste for bicycling has shifted. The demand curve is much more inelastic. The price elasticity of demand has decreased from: -5.76 to -2.70." Before the campaign your price was $240 per pair of BBB Shorts. What should be the new price?
Consumers regard Dell computers and Gateway computers as substitutes. If the price of a Dell computer decreases
A firm has a budget of £1,140 and can buy inputs K and L at £3 and £8 respectively a unit. Its output is determined by the production function.
Give an example of the Law of Demand, the Law of Supply. In the rental market [choose one class to where you live or where you work] tell us 'the equilibrium rental for a 2 bathroom, 2 bedroom apartment in a safe neighborhood close to great transport..
Supply-side economics has a long history, dating back to at least the fourteenth century. The greatest of medieval historians, Abu Zayd Abd-ar-Rahman Ibn Khaldun (1332–1406), included in his book, The Muqaddimah (1377), an Islamic view of supply-side..
illustrate and explain how each of following would affect market value of US dollar. Canada experiences severe deflation. US engages in an expansionary monetary policy.
Suppose the full-employment, noninflationary level of real output is GDP3 (not GDP2) in the economy depicted in the figure below. If the economy is operating at GDP2 instead of GDP3, the standardized budget is
Which of the following will make crowding out caused by government borrowing more severe?
Discuss the economics justifications for a merger. In particular, how might these reasons apply to companies now merging in the following industries oil automobiles telecommunications electric power commercial banks
The Philadelphia Phillies defeated the Tampa Bay Rays 4 to 3 to win the 2008 major league baseball World Series. Earlier in the major league baseball playoffs, the Philadelphia Phillies defeated the Los Angeles Dodgers to win the National League Cham..
In this experiment, what is the treatment variable? Give an example of a variable that could confound the results.
What is the difference between a want and a need?
Why might mandating better employment protections for workers increase the unemployment rate?
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