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Defines and explains a closed system and provides an example. Defines and explains an open system and provides an example. Explains the inner and outer flows of a closed system. Explains the inner and outer flows of an open system. Defines and explains leakages in an open system. Defines and explains injections in an open system. Provides a personal example of a leakage describes it and explains it. Provides a personal example of an injection describes it and explains it.
Last year, Pat and Chris occupied separate apartments. Each consumed 400 gallons of hot water monthly.
Illustrate what is the point price elasticity for each person and for the market.
Assume a 2 sector economy (where the two sectors are consumption and investment) where C= $100+ 0.9 Y and I=$50
Suppose that there are two goods in the economy, and the price of each good is equal to 1. When Alice has income of $10, She consumes 1 unit of good y and 9 units of good r.
Describe the market structure in which the selected good or service competes. Discuss the implications of the market structure on pricing.
The concept of present value gives equivalent in dollars available immediately to a payment that is made at some point in future.
could you have both a comparative and absolute advantage in trading. If so, what if at all would be the benefit for your country to trade with any other country.
Express the effects of government economic policies which could have on the sales of the Escalade
Discuss, relating in part whether such highways are public goods and whether or not privatization should work.
You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia.
Assume that the price elasticity of demand for good. Describe how much consumption changes.
Assume you are asked to do market analysis in an area in which a natural disaster has recently occurred. For example, Nashville after Spring floods or New Orleans after Hurricane Katrina.
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