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Suppose the cross-price elasticity of demand between goods X and Y is -2. How much would the price of good Y have to change in order to change the consumption of good X by 20 percent? Percent
q1. suppose that on january 1 the price of one hundred yen was 0.80 and ppp held. over the year the japanese inflation
Which of the following trends favor a more labor-intensive method of production? A growing number of desperately unemployed people as the result of rural-urban migration. A limit to the level that wages can fall (subsistence)
At what price would no caps be sold? Calculate the price elasticity of demand at a price of $6
Consider the truthfulness of the following statements. Assume that good x is on the horizontal axis and good y is on the vertical axis, and that preferences are complete, transitive, monotonic and convex. If price elasticity of demand for good x is n..
What is the impact of the following factors on the optimal method of procuring an input. Benefits from specialization. Bureaucracy costs. Opportunism on either side of the transaction. Unspecifiable events. Bargaining costs.
At the current price level, would it be viable for the firm to increase the price level of its brand of coffee. Support your answer.
Consider the premier coffee industry, assuming Starbucks and Peet’s Coffee are the only two firms in the market. Both firms are contemplating the decision to advertise or not (for simplicity, assume the firms only decide whether or not to advertise, ..
Calculate the expected annualized compound rate of return over the five years for each bond. Which bond offers the higher expected compound rate of return?
The topic of banking and its role in the economy has been an interest of many students in this class due to the experiences during the 2008 recession. Many find this chapter enlightening as a way to better understand the economic history of 2008/2009..
The financial crisis of 2008 caused macroeconomists to rethink monetary and fiscal policies. Economists, financial experts, and government policy makers are victims of what former Fed chairman Alan Greenspan called a "once in a century credit tsunami..
Which of the following are included among the elements developed in the Restatement (Third) of Unfair Competition, § 46, for a right of publicity claim? Use of a person’s identity to gain a commercial advantage Interference with an individual’s priva..
Tomatoes grow well in Kansas. Why do the people of Kansas buy most of their tomatoes from Florida, Mexico, and California?
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