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Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to account for the price change. For example, if the price of cars enhances, a family that planned to buy a car may wait for their income or wealth to enhances to make buying a new car viable alternative to continuing to drive an older vehicle. In other words, the longer the time frame for the decision to buy the more price elastic the demand for the commodity.
Because of your reputation as an expert in economic analysis, you have been hired as vice president of a business consulting firm named Economists R Us. This firm provides consult
Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last
Topic: Please choose a case study in water related area and analyse it from at least two angles (or more) by examining the technical side as well as the economical, social and poli
baumol''s theory
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
Cost Function for Savings and Loan Industry * The empirical estimation of long run cost function can be useful in restructuring of the savings and loan industry in wake of savi
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
Valence Bond Theory Explains, but does not predict the shape. Valence Bond Theory Cannot explain colour and spectra. Valence Bond Theory Qualitative explanations; does not expl
A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many point
For the following assume that b=.95 1, If the economy is short of the full employment level by 1.5 trillion, what could be done in the simple Keynesian cross model to fill the ga
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