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Assume that Melanie had 200000 of disposable income and spent 180,000 on consumption in 2006 and had 300,000 of disposable income and spent 240,000 on consumption in 2007
If Melanie's went up to 400,000 in 2008 how munch would she be likely to spend on consumption that year?Ans: 300,000â?¦..how do you get 300,000?
If melanie's income went down to 100,000 in 2008 how much would she be likely to spend on consumption that year?
Why is it not surprising to find that in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Discuss the limitations of this model as an explanation of the effects of government expenditure on GDP.
If you have two items which are complements in consumption and the price of one of them goes up, what happens to the demand of each of the items.
A open economy has a marginal propensity to import equal to .2 and a marginal propensity to consume equal to .7. Determine propensity to save of this economy?
Suppose each cake costs the same to make, what is the average cost to produce a cake. Compute Alyssa's labor productivity ration in dollars per hour for each type of cake.
An ice cream shop read in the local paper in which the elasticity of market demand for ice cream
A firm uses a single plant with costs C = 160 + 16Q + .1Q 2 and faces the price equation-Find the firms profit maximizing price and quantity. What is its profit?
European nation for three consecutive years and comment about possible time changes and eventual differences across countries.
Identify also explain the key features of an oligopolistic industry. Illustrate your answer with reference to an industry of your choice.
Answer whether the following statements are true or false, explaining your answer in each case.
illustrate what happens to total income when the price of milk is increased.
If the cost of a substitute product increases, which of the following is most likely to happen in the market for the product under consideration in the short run.
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