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Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short-run equilibrium quantity is 23.84 billion barrels per year. Derive the linear demand and supply equations.
You are told that 75 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $25 billion.
A business plan is a written summary of an entrepreneur's proposed venture, its operational and financial details, its marketing opportunities and strategy, and its managers' skills and abilities.The most effective way to communicate the values of ..
this problem is intended to be more open-ended than previous assignments so you can get a feel for what its like to do
As a result of the increase in income, Mei decides to spend eight evenings at Zanzibar and eat at the Chinese restaurant four times. What kind of a good is Chinese food? What kind of a good is a night at Zanzibar?
question on 4 different graphs illustrate what happens to equilibrium price and quantity in the market for orange juice
A marble column of cross-sectional area 1.2m2 supports a mass of 25,000kg.
What are your recommendations to the current administration considering the state of the economy and the level of national debt? What are the implications of your recommended course of action?
What do economists believe is the relationship between the price level (P) and real output (Y) in the short run and in the long run, and how does this answer differ depending on which time frame is being considered How are these beliefs reflected ..
In a complex assembly operation, it is found that the learning curve rate is 70%. The standard time of 3 minutes per assembly is reached after the 110th unit. Find i. The time required for the very first unit.
What are the marginal costs and benefits of pursuing additional education and inherent risks associated with this decision?
in class we covered the concepts of producers and consumers surplus.a. with respect to different government policies
1. you are given the following information about the costs of a perfectly competitive
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