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1. Other things remaining unchanged, advertisement would likely make demand for a good more price elastic.
True
False
2. The cross price elasticity demand for a good with respect to the price of a complementary good is negative.
3. When the marginal product of labor is smaller than its average product, marginal cost will be smaller than average variable cost.
4. With capital measured along the vertical axis and labor along the horizontal axis the slope of an isoquant is equal to the ratio between the price of capital over the price of labor.
Referring to the concept of entry barrier and explain dunning ideas on strength of multinational enterprise. How would an enterprise take advantage of different levels of innovation? (i.e., of major innovation vs minor innovation.
Although studies continue to show smoking leads to significant health problems, 20% of adults in the United States smoke. Consider a group of 350 adults. What is the probability that from 55 to 70 smoke? What is the probability that 70 or more smoke?
Subsequently the customer paid the balance on 22 October 2012. To customer the Credit terms offered.
The Solow Growth Model. In 2010, Japan was a large open economy with perfect capital mobility that was at its steady state.
The constant rate no before the one child policy; after the introduction population growth drops to the constant rate n1 analyze the effect of this policy.
In the short run, at a market price of $15 per shirt, this firm will choose to produce shirts per day. On the previous graph, use the blue rectangle (circle symbols) to shade the area representing the firm's profit or loss if the market price is $1..
Volumetric oil reservoir with pressure dropped from 2000 psi to 1000 psi with 30 MM STB oil was produced. Gas oil ratio was 900 Scf/ STB at 1000 psi , while the current gas oil ratio is 2200 scf/STB . Porosity= 20% , Sw= 0.15 .the temperature of the ..
Consider Solow's model when the production function is Y = 1000K0.3L0.7 . The population growth rate is 2%, ? = 0.1 is the depreciation rate and s = 0.25 is the savings rate.
Question 1: People clearly discount the future, relative to the present. But they may discount certain things more than others. Arrange the following in decreasing order of the likely discount rate. After you have made your list, write a few senten..
Show the effect in the market for wooden furniture, if the president passes a new law that say you cannot cut down any trees
q1. the law in ruba says no worker shall be paid less than nine slugs per hour. estimate the quantity of labor supplied
?The law of demand states that quantity demanded of a good is inversely related to the price of that good. Therefore, as the price of a good goes:
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