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The price elasticity for rice is estimated to be -0.4 and the income elasticity is 0.8. At a price of $0.40 per pound and a per capita income of $20,000, the demand for rice is 50 million tons per year. If per capita income increases to $20,500, what will be the quantity demanded of rice? If the price of rice increases for $0.40 to $0.41 per sound and income per capita remains the same, what will be the quantity demanded of rice?
chez henri is a restaurant chain that operates in 40 different cities. it hired an economist to estimate the factors
Honda uses flexible plans in the manufacturing of its cars. Discuss whether this method of production results in optimum output.
Assume monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.
Discuss the various uses of public budget. Describe the politics of administrative reforms. Describe how public budget could be political. How does administrative responsibility contribute to the attainment of public interest. Describe how ethical ch..
According to Okun's law, what unemployment rates would we expect to see in this economy? b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of s..
By what percentage did the value of the real exchange rate change over this period? Please give your answer to the nearest whole percentage point.
a struggling company currently has a net worth of 700000. it owes 500000 from debt financing assume these are loans
explain under what conditions it would be rational for a woman who could earn more than her husband in the labor market
How would population growth effect the dynamically efficient allocation, given the model in question 2 the second period has a higher demand for the depletable resource. What effect would the addition of population growth have on the efficient all..
Explain why government regulation is needed in in the Apple ipad industry stating the major reasons why government involvement in a market economy.
An investment of $100,000, increased to $168,510 over a 5 year period. What was the rate of return on the investment?
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply or does it indicate a decrease..
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