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Suppose the cross-price elasticity of demand for pork with respect to the price of chicken is equal to +0.4. What does this tell you about the relation between pork and chicken? What will happen to consumption of pork if the price of chicken falls by 20%? (Calculate what is the percentage change in the consumption of pork. Hint: Cross-price elasticity)
What is the average product of labor, given that the level of labor equals 5, total output equals 500, and the marginal product of labor equals 25?
Electrotech, a maker of household smoke detectors, buys resistors for its smoke alarms for $.15 each. The resistor manufacturer marks-up the resistors from $.10. Does the resistor manufacturer’s mark-up necessarily represent profit?
The tools of monetary policy for altering the reserves of commercial banks are the
Give an example of consistent Fiscal Policy and Monetary Policy that you would choose to correct unemployment gap (Recession) that you suspect in the economy?
When Bill Clinton took office in January 1993, he faced two major economic problems: a large federal budget deficit and high unemployment resulting from a very slow recovery from the recession of 1990 to 1991. Some said at the time that without the F..
Explain how it will affect the number of employees you schedule. All other things being equal, what will happen to prices of the Galaxy and the iPhone.
Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
q1. illustrate what is the meaning of economies of scope and explain how do they differ from economies of
Because of the close co-movement between the budget deficit and the current account deficit, the two are often referred to as “twin deficits”. Explain in detail how an increase in the budget deficit that is due to an increase in government spending (..
Use axiom of transitivity to prove that indifference curves cannot touch each other. Use axiom of non-satiation to prove that indifference curves will always be downward sloping and utility functions will always be upward sloping. Use the axiom of di..
Assume that all cows are homogeneous. Explain how the international monetary system would operate if all central banks undertook to fix the price of cows in terms of each country's currency. Would you expect large fluctuations in exchange rates under..
Compute the standard deviation of the return as a percentage over the coming year c) If the risk-free return is 7%, what is the risk free premium for a stock market investment?
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