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Calculating Price Elasticity of Demand) Suppose that 60 units of a good are demanded at a price of $6 per unit. A reduction in price of $0.70 results in an increase in quantity demanded 75 to units. Show that these data yield a price elasticity of ____. By what percentage would a 7 percent rise in the price reduce the quantity demanded, assuming price elasticity remains constant along the demand curve?
what are the four assumptions in the production possibilities curve and how can unemployment be illustrated with that
Discuss the impact of the minimum wage when there are two sectors in the economy, one is subjected to the minimum wage and the other is not.
Explain how the United States calculates unemployment and why many economist do not find this as a real economic indicator. How is unemployment calculated in other countries? Give two examples. What are your thoughts and ideas on this?
Prepare to write a 6-8 page paper. What were the two scores for the leader you chose? What were your two scores? What do the scores mean and how did they compare? What insights did this exercise reveal to you about leadership?
Assuming the revenue from a congestion tax is not redistributed to city residents, what effect would a congestion tax have on the residential bid rent curve? If the government reduced other taxes after instituting a congestion tax, how would the resu..
Draw a new production frontier for nation 2 showing the rybcznski theorem for doubling for the amount of capital only.
How are unemployment and employment
Assignment Presume that you are considering whether to enrol in a summer computer-training program that costs $2500. If you take the program, you will have to give up $1500 of earnings from your summer job. You decide that the program will increase y..
What are the macroeconomic consequences of a budget deficit when the economy is operating at full employment? Be sure to discuss the effects in the short run and long run.
The quantity demanded of cellular phones to change
Eli Lilly in India: Rethinking the Joint Venture Strategy - Design and management of an international joint venture.
Which of the following define positive economic statements and which are normative?
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