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If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is
2. If the absolute value of a demand elasticity is less than 1, then
3. If the cross-price elasticity is negative, then the two goods are
4. Under perfect competition, a firm maximizes its profit by setting
5. In a large city, a good, real-world example for perfect competition would be
6. A firm under monopolistic competition will earn
decides not to play by the rules of the game. Then illustrate what could the final equilibrium position be.
Explain how labor market equilibrium is affected by the supply also demand of labor.
Suppose you can collect country level trade flows and GDP data. Explain how can you verify monopolistic competition model with data. Illustrate what do you expect is impact of transportation costs.
If the firm's MARR is increased to 25%, what would be the required savings in leasing so that the project would remain profitable.
Two Processes are under consideration for a certain production. Process A needs acquisition of a new machine which is estimated
Consider the types of non-tariff trade barriers and determine which has the most detrimental effect on the U.S. economy from the standpoint of the domestic consumer. Explain your rationale and support it with specific examples.
llustrate the black market for lnternet access, comprising the implicit supply schedule.
The Central Bank of Muji wishes to eliminate the recessionary gap while expansionary monetary policy. The central bank can do so by stimulating consumption and planned investment.
Illustrate fiscal policy action might increase investment and speed economic growth.
Illustrate the tourism industry in Florida prior to the spill and potential tourists, rightly or wrongly, fear polluted waters and ruined beaches from the spill, show the new lines and equilibrium points after the spill.
Illustrate what are some cultural considerations when managing a global project. How might legal and political implications influence global project selection.
Explain the solution to the firm's cost-minimization difficulty ever occur off the iso-quant representing the required level of output.
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