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Explain which of the following items in each pair is more price elastic.
a. The demand for a specific brand of toothpaste and the demand for toothpaste in general b. The demand for gasoline in the short run and the demand for gasoline in the long run
12. Explain the difference between a positive and a negative network externality and give an example of each.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
What do you understand by the term ‘Keynesianism’? From a policy perspective, outline key Keynesian policies comparing and contrasting these against a neo-liberal policy platform.
What is price elasticity How does Moore's Law relate to this concept What is sepcial about falling chip price What is the advantage of using grid computing to simulate an automobile crash test as opposed to actually stag
Westside Plumbing and Heating Company is offered a contract for $100,000 to provide plumbing for a new building. The labor and equipment costs are calculated to be $60,000 for fulfilling the contract.
If Apple reduced its price for the shuffle, what do you think would happen to their profit? What impact would the price decrease have on their competitors? Explain by considering the elasticity of shuffles).
This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?
I am learning about scarcity in my SS 6th grade and I am unsure about this question. which sentence best tells the effect of scarcity on economics.
Suppose that you are the only seller of paper in the market, and you know that John already has a printer, how much will you charge him for the (100 units of) paper?
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
Are there any externalities associated with this good Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be..
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Governments have several means available to guide and influence competition in the marketplace. These means include government ownership of firms and industrial policy.
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