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1. If the price of a good increases from $20 to $25 and the quantity demanded of a good decreases from 100 to 90, what is the elasticity of demand? Is the demand elastic, unit elastic, or inelastic? Use the midpoint method. Round to the nearest hundredth.
2. In the market for beer, the elasticity of demand is – 0.8 and the elasticity of supply is + 2.4. Suppose the supply of beer increases by 4%. What is the effect on price?
3. If the elasticity of demand is -1.5 and the percent change in price is -10%, what is the percent change in quantity demanded?
What does central bank independence mean? Which dimensions are included? Politically independent monetary bank is an important prerequisite for currency stability
q1. banking system presently has 200b of bank explanation none of which are excess. citizens clutch only deposits also
Given the importance of the M-Pesa to the rising economic growth of the Kenyan economy, what should Safaricom do about the Kenyan government’s announcement of a new 10% tax on financial transactions? For this question assume that transactions are bet..
Prepare a composite (weighted) index for housing construction costs in 2008 with the following data:
How has Apple positioned itself to take advantage of unique designs to attract a sufficiently large niche market to surpass the competition in the United States and China? What does the Apple experience tell us about risks associated with strategic a..
In the immediate market period for a highly-perishable crop like tomatoes, the individual farmer's supply curve tends to be:
Explain the relationship between one's beliefs about whether the minimum jobs program presented in the chapter actually solves the unemployment problem and one's normative view of responsibility for unemployment.
Which of the following is likely to occur when copyright laws are enforced?
Hebron and Stack discuss the fragmentation of nations - the rise of smaller units within a nation. While this is certainly happening at the same time as increasing market integration and globalization, is this a product of globalization or is mere..
Calculate the equilibrium interest rate by setting the demand for central bank money equal to the supply of central bank money.
Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. Draw her indifference curves.
Five of ten people earn $0, four earn $100, and one loses $100. What is the expected pay off and variance of the pay off? There is a 50 percent chance of making $0, a 40 percent chance of making $100, and a 10 percent chance of losing $100. Calculate..
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