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Determine the productivity level of US
Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in those regions a century ago. However the relative gap regarding the industrial core has grown extravagantly and extraordinarily. In the first half of 19th century the average inhabitant of an average country had perhaps one-half the material standard of living of a citizen of the world's leading industrial edge economy. Today average inhabitant of an average country has just one-sixth the productivity level and material standard of living of the leading edge.
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
Around 2007, the world copper price was $2.00 per pound and 12 million metric tons per year was the quantity transacted. A) Assume copper’s demand elasticity is -.5 and supply elas
what is the Theory of second best? Prove the theorem with the help of digram
How might a change in the exchange rate affect the domestic economy of the country? A change in the exchange rate - ceteris paribus - will alter relative prices between trading
The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product. For example, the quantity demanded
Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%
E-goods are returning to price levels which we thought they had left behind, again the inevitable price elasticity. Why is it so certain that price elasticity will cause those pric
Calculate Marginal Revenue
Stock of durable goods on hand: If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars,
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