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Explain why the price of gas has changed. Identify some of the market factors that led to the price increase. Consider the determinants(supply or demand) that affect it. What is the impact on the market equilibrium as a result (due to a shift)? Give a detailed explanation for your answer.
Elucidate why there is a relationship between price elasticity of demand and the effects on total sales revenue.
The economic analysis of legal concepts, such as property law, contracts, torts, the legal process, crime, and punishment. The focus of much of the material is using the scientific theory of economics to predict the effect of various policies on ..
Explain the benefit-based principle in taxation. Also explain how this principle is linked to the Lindhal equilibrium in local public finance choice
Please rank the follow curves as to how they would contribute to deadweight loss if a good that had this elasticity was taxed. Assume the supply curve has elasticity equal to 1. Most deadweight loss. Least deadweight loss
Generally wind turbines can substitute for coal in the production of electricity. Imagine a breakthrough in the production of wind turbines reduces the cost of generating electricity with wind by 50%. How would this alter the incentive to find and pr..
Illustrate what two policies could you use to reduce the total amount of emissions.
Two goods are substitutes if an increase in the price of one good leads to an increase in demand for the other. The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people. Markets e..
You are the manager of a midsized company that assembles personal computers. You purchase most components – such as random access memory (RAM) – in a competitive market. Based on your marketing research, consumers earning over $80,000 purchase 1.5 ti..
A company decides to offer an average annual raise of 8%, although the current inflation rate is 10%. Each engineering manager decides on the best way to distribute the salary increase to his/her staff. However, if everyone gets an increase of 8%, th..
The monetary base is $100bn, currency is $25bn and reserves $100bn. suppose that money supply (M1) is $200bn. What is the money multiplier? What is the currency deposit ratio? What is the reserve deposit ratio? If the currency deposit ratio increases..
Your job – from the available facts, calculate the current year’s spending by category and in total. Then, calculate the expected spending next year assuming no changes are made to the plan.
Now discuss the fact that deflation is the central bank's worst nightmare. Make sure you refer to a real interest rate of -2.68%. Why is this environment such a nightmare for the central bank and monetary policy?
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