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When using a supply-and-demand model to illustrate how land rents are set, economists typically draw the supply curve as a vertical line because: a. The supply of land is fixed. b. The supply of land is perfectly inelastic. c. The quantity supplied of land does not increase when rents go up. d. All of the above.
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, quantity demanded falls by 1.50%. By the end of this year, the price of gaso..
q1. assume which there is an increase in total factor productivity. in the search model of unemployment find out the
The discussion of the multiplier in the last chapter shows how a change in autonomous spending increases real GDP by a multiple of itself. For example it the multiplier is 4 and the change in autonomous spending is $100, and then the real GDP is $400..
Globalization refers to the increasing economic interdependence of countries with trade, it also refers to a rise in cultural exchange. It also refers to knowledge, information, people, across international borders. Whether we like it or not just lik..
Investors commonly use the standard deviation of the monthly percentage return for a mutual fund as a measure of the risk for the fund; in such cases, a fund that has a larger standard deviation is considered more risky than a fund with a lower stand..
Activity-based costing (ABC):
ß (beta) in the Phillips Curve equation increases as
Assuming a constant marginal cost, a lower price elasticity of demand would call for a relatively lower mark-up ration. Mark-up pricing might be more suitable for monopolies. The higher the fixed cost the lower the break-even output quantity.
Comment about substitution effect and income effect when price of good one alone decreases if the goods are perfect substitutes.
Decrease in demand is represented by a
Explain the difference between accounting profit and economic profit. Which should business owners be more concerned with and why? Provide an example that would illustrate how accounting profit and economic profit differ.
Corporation strategy and business (or competitive) strategy. Company is "Whole food market INC in 2014". What have been the key elements of the company’s corporate strategy up until the time of the case? What is the company’s business strategy (igno..
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