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What factors determine the elasticity of resource demand? What effect will each of the following have on the elasticity or location of the demand for resource C, which is being used to produce product X? Where there is any uncertainty as to the outcome, specify the causes of the uncertainty.
a. An increase in the demand for product X.
b. An increase in the price of substitute resource D.
c. An increase in the number of resources substitutable for C in producing X.
d. A technological improvement in the capital equipment with which resource C is combined.
e. A decrease in the price of complementary resource E.
f. A decline in the elasticity of demand for product X due to a decline in the competitiveness of the product market.
Analyze the balance-of-payment structure and make at least one recommendation for reducing errors and/or omissions. Explain your reasoning for making the recommendation you did.
National income and product data are generally revised. What effects would the following revisions have on consumption,investment, government purchases, net exports and GDP
riority mail has been one of the most profitable products for the U.S Postal service, between 1995 -1999 and accounting for almost 8% of the Postal Service's mail revenue. Because the Postal Service lost $480 million in the fiscal year ending Sept..
Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?
Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater than, less than, or equal to $10? How might you dete..
Want the duration of its assets to be greater than the duration of its liabilities - a positive duration gap.Want the duration of its assets to be greater than the duration of its liabilities - a negative duration gap.
Suppose that in the Akerlof example, there are only eight cars ranging in quality from 1/4 to 2 ( there is no complete lemon). Hence, the mean quality level is 1.25. Determine whether the market disappears completely, and if not, how many cars wil..
Canada, Mexico, and the United States have a free trade zone. What would be some of the advantages of having a common currency as well? The disadvantages? Do you think it would be a good idea? Why or why not?
Explain why a monopolist will never produce a quantity at which the demand curve is inelastic - hint - if demand is inelastic and the firm raises its price, what happens to total revenue and total costs
Country A and country B produce the same consumption goods and capital goods and currently have identical production possibilities curves. They also have the same resources at present, and they have access to the same technology. Currently, countr..
The demand for new homes in the United States is often described as highly cyclical and very sensitive to housing prices and interest rates.
Short-term loans between banks are called
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