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Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Use the Midpoint formula and please show your work
In a waiting line model situation, arrivals occur around clock at a rate of six per day and service occurs at one very three hours. Assume Poisson and exponential distributions. Illustrate what is Mean Arrival Rate λ
Illustrate what is the equilibrium cost of a car stereo also illustrate what is the equilibrium quantity of car stereos per day.
Explain which of the two classmates would you prefer as a partner. Would he also want you as a partner.
What would be the new equilibrium exchange rate that would make purchasing power parity grasp for laptops.
Suppose that two people, Mary and John each live alone in an isolated region. y each have same resources available and y grow corn and raise pigs. What is John' opportunity cost of producing corn.
q1. the short-run marginal cost of the ohio bag company is 2q. price is 100. the company operates in a competitive
Show analytically that equilibrium price under Cournot is greater than price under perfect competition but lower than monopoly price.
q.the mundell-fleming model takes the world interest rate r as an exogenous variable. lets consider illustrate what
As the United States economy moves out of a recession, U.S. financial investors increase their purchases of stocks that are expected to earn a higher rate of return than they are currently earning on their savings account deposits.
Elucidate how much they can accumulate over 25 yrs if they move the money into a money market mutual fund earning 5 percent.
It has been proposed that a government agency be charged with the responsibility for determining the amount of pollution
A ‘linear deprecation' is characterized by a loss in value by constant amounts per year. Why might calculated depreciation rates not reflect ‘true' depreciation.
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