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The estimated market demand of a commodity X is given as Q=70-3.5P-0.6M+4Pz, where Q=Estimated units of X demanded, P=Price of the goods, M= Money income and Pz= Price of related goods.
Find out;
1. if Xis a normal good or an inferior good and explain;
2. Are commodities X and Z substitutes or compliments?
3. At P=10, M=30 and Pz=6, compute the estimate for own-price and cross elasticity
Using an aggregate supply diagram and aggregate demand or model of the economy, graphically explain and discuss the short-run and long-run effects.
Many retail companies use mark up pricing? Setting price some percentage above variable cost (such as 50% above cost).
News Analysis. Analyze a news from a global newspaper (Financial Times, Newsweek or a similar one), delivering a report that could be useful for your company to take a managerial decision.
Examine of taxation is complex and the issues you should address when looking at taxes are: the revenue increased, the equity of tax, and the efficiency of the tax.
Determine how the following situations will affect the demand curve for ipods.
Give at least three reasons and examples when addressing this question, using your text, the Online Library, and the Internet as resources. Identify an event that would shift the AD curve and which direction the AD curve will shift.
Suppose that you agree with the 16-percent rate of return proposed by the company. What factors need to be considered when setting rates designed to achieve this factor?
You have been tasked by your boss to forecast what hours of work through your workers would be following a proposed increase. you have had a flexible policy of workers selecting their hours
Calculate her utility maximizing choice of food and clothing and calculate the level of utility her optimal consumption bundle gives to her.
Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.
How does the minimum wage law present a trade-off between economic efficiency and social equity?
How do you propose to enact these standards when you are an administrator? What is the regulation or statute for? Who does the act protect? What are the consequences for violating it? Why are laws like this good for protection? How do you propose..
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