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1. Consider the market for a particular type of computer memory chip. Would you expect the long-run (own-price) elasticity of supply to be larger or smaller than the short-run elasticity? Why?
2. Consider the market for new automobiles in Canada. Would you expect the long-run (own-price) elasticity of demand to be larger or smaller than the short-run elasticity? Why?
Suppose the inverse demand curve for a market is equal to p = 100 -- 0.3Q. The inverse market supply curve is p = 20 + 0.5Q. 1. Calculate the equilibrium price and quantity;
What is the difference between an economic luxury and an economic necessity? Ans) An economic luxury is wasting land on pools huge garden, etc. An economic requirement is what y
conditions for steady state in solow model.in what respects is golden rule different from steady state?
what is meant by PPF?
Difference between mec and mei.
a. State concisely, in your own words, the essence i.of what GDP measures and ii.what GDP doesnot measure. b. Stocks and bonds issued by firms comprise the "Investment" co
link of monetary account with other sectors and its meaning
What do I calculate with quantity of each good produced, to find the Real GDP?
1. Christopher has $200,000 to invest, and he is considering the following business opportunity. He would use his $200,000 to buy a mechanical self-service car wash. He'll earn $40
#discuss the arguments for and against the use of trade barries in anay counrty
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