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The market for hog hats is competitive and demand is given by P=75-Q while supply is given by P=15+2Q. What are the equilibrium price and quantity in this market?
Calculate the elasticity of demand at a price of 50. Give an economic interpretation to your answer. Is demand elastic, unit elastic or inelastic at this price?
To enable more students to wear hog hats to games, the UA decides to give hog hat producers a subsidy of $9 per unit. What price will consumer's pay and how many hog hats will they buy? How much will the UA spend on the subsidy? What will be the change in producer surplus?
Which nation has the absolute advantage in the production of tanks. Why is it this country.
Explain how to describe price elasticity of demand. What are the factors that affect price elasticity of demand.
The solution mentions the OPEC Oil Cartel, the company's stated goals, the member-countries, and when it was founded. Their role in keeping oil prices high, and the difficulties they faced in keeping the cartel united.
What would it not be better to nationalize public utilities as some European countries have done. Explain.
Explain how much should it be willing to pay today for the office complex.
What does the firm have a profit maximising plan in the long run. If no, explain why. If yes, is the plan unique.
As per fiscal policy makers increase the budget deficit, monetary policy makers should increase the money supply
Clipit utilize this advantage to be the first to choose its profit-maximizing output level in the market.
The present spot exchange rate is $1.55/£ and the 3M forward rate is $1.50/£. On the basis of your analysis of the exchange rate.
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
Sales for year just ended were $500, and fixed assets were used at 80% of capacity. Current assets and accounts payable vary directly with sales.
What was the cross-exchange rate between the Real and the Peso in 2001? Real____/Peso. What was cross-exchage rate between Real and Peso in 2002? Real_____/Peso.
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