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Q. According to the Houthakker also Taylor the cost elasticity of shoes in the United States (US) is 0.7 also the income elasticity is 0.9.
a. Would you suggest that the Brown Shoe Company cut its costs in order to increase its revenue?
b. Illustrate what would be expected to happen to the total quantity of shoes sold in the United States (US) if incomes rise by 10 percent (%)?
Q. if society's resources are fully used to manufacture goods also services to satisfy the wants of its people After that future generations cannot use them. True or false
Any goods from all should be of higher demand than supply; the other good should show higher supply than demand.
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a homeowner can insulate his house and save $50 each year in heating bills. If the interest rates are 6%, should the house owner insulate or not.
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The advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
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