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Q1. Why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips. If the price of gasoline stays high, people eventually replace their cars with more fuel-efficient models?
Q2. Suppose a Japanese firm buys a 1 year treasury bill with a face value of $10,000 today for $9400. If the value of the dollar declined from 90 to 80 yen during the year, what rate of return does the Japanese firm earn on its investment?
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
What was the accounting profit for the new business. What was the economic profit or loss. Explain your calculations for both questions.
Semiconductor chips are used to store information in electronic products, such as personal computers. One of the early leaders in the production of these chips was Texas Instruments (TI).
Why did people believe the difficulties Aisian economies were expericing in 1997-1998
Suppose at the current level of labor used, the MRP = $100 and the MFC = $50. Elucidate the maximize profits
Calculate gross national product and net national product
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Someone proposes to buy the farm from you for $1 million. Would you make more by selling the farm or keeping it
Think of any financial innovation in the past ten years
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Dependency theory characterizes countries as being either in the center or on the periphery
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