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Identify three separate things that you personally have purchased in the past month. Now, for each of those goods answer this question: If the price had been 50% higher would I still have bought that thing? Or would I have said "No, I won't pay this higher price."
Now, tie your answers to what you know about elasticity. Was your demand for these products elastic or inelastic (remember if the price was higher and you'd buy the same amount your demand is inelastic.) What was it about each of these products that made your demand for them elastic or inelastic?
Elucidate why the Aggregate Supply curve becomes increasingly steeply sloped at levels of RGDP.
What happens to the equilibrium price and quantity in each market? Which product experiences a larger change in quantity? Which product experiences a larger change in price?
Suppose a product sold in a competitive market is subject to a government price control. Suppose the regulated price is less than the free market equilibrium price.
Discuss the comparative advantage(s) of your selected regional trading blocs. Identify the major risks associated with doing business in the selected trading blocs.
A construction manager earns $70,000 every year working for a regional home builder decided to open his own home building company.
Describe the effect of such clauses on both the government, and other customers, noting, inter alia, the effect on the selling firmâ.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
the table shows the demand schedule for two consumers of lemonade, Eli and Molly. Assume that these are the only two consumers in the market. Use the multi-point line tool to plot the market demand curve for lemonade.
Assume a merger of company would simultaneously lessen competition and reduce unit costs through economies of scale.
What is the amount of the son's freshman year expense in terms of actual dollars? (b) What is the equivalent single sum amount at the present time for these college expenses?(c) What is the equal amount, in actual dollars, the father must save each y..
Illustrate how is the magnitude of each affected if, instead of a moderate inflation, hyperinflation occurs.
Globalization and global trade have led to increased competition in world markets and increased allocation of scarce resources. Is it accurate to say that this is contributing to increased consumer surplus and reductions in inflationary pressures.
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