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Elasticity -
Analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic or inelastic:
In your analysis, please make sure to explain your reasoning and relate your answers to the characteristics of the determinants of the price elasticity of demand.
Guided Response: Review the discussion board posts of your classmates. Note their responses to the determinants of price elasticity of demand. Respond to at least two of your classmates. Discuss with your peers the characteristics of an inelastic versus elastic good.
Externalities -
Explain the difference between a positive and negative externality. In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your examples?
Guided Response: Review the discussion board posts of your classmates. What are some of the key differences between positive and negative externality? Respond to at least two of your classmates. Analyze the solutions your classmates offered and compare them to your own. Provide advice to your classmates' solutions for making the market more efficient.
Compare and contrast less government intervention in the financial market and more intervention. Does deregulation lead to more economic growth and stability?
Draw the rotated rotor R2 R1 R- 2 as an arc in the spherical image. (Hint: What would you expect it to be based on its geometric meaning? Warning: It is not simply the R1 arc rotated over the R2-arc!)
FlyAway Airlines has regular flights between San Diego and San Francisco. It can treat business and pleasure travelers as separate markets by demanding advance purchase and Saturday night stay-over for pleasure travelers.
suppose the inflation rate is 5. suppose the marginal product of capital in a firm is 8 but that in the course of
write a three to four 3-4 page paper that addresses the questions below.debate whether or not economics apply to health
A rancher and a farmer are located next to each other. Here are the facts of their situation: There is no fence between the ranch and the farm The cattle enter the farmer's fields and destroy $300 worth of corn each year. The rancher's business is w..
Assume a household with a monthly income of $5,000. This household allocates its income to the purchasing of food and nonfood products. If the average price of food products is $20 per unit and nonfood items cost $150 per unit- Write the hous..
Compare the Ricardian Model to the HeckscherOhlin Model. What are similarities and what are the differences? Do they yield the same predictions?
Your team is a consulting group that has been contracted by Toyota Corporation.
In the chapter we mention how prices can vary in a tourist trap. Which market, St. Louis or Chicago, was more likely to behave like a tourist trap? Explain.
You are starting your own Internet business. You decide to form a company that will sell cookbooks online. Justcookbooks.com is scheduled to launch 6 months from today. You estimate that the annual cost of this business will be as follows.
The market demand in a homogeneous-product Cournot duopoly is P=200-3(Q1+Q2) and costs are C1(Q1)=26Q1 and C2(Q2)=32Q2. Determine the reaction function for each firm.
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