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GOOD Price yr 1 Quantity of Goods year1 Price yr2 Quantity of goods yr2
Quarts of icecream $6 4 $6 6
Bottles of shampoo $4 2 $4 3
Jars of PeanutButter $3 4 $3 3
What was GDP in yr 1? $___What was GDP in yr2? $___
Wilpen Corporation, a price-setting company, manufactures nearly 80% of all tennis balls purchased in the United States.
Chez Henri is a restaurant chain that operates in forty different cities. It employed an economist to determine the factors affecting the demand for its sales.
Refer to Table For a firm operating in a competitive market, the marginal revenue is $0. $7. $14 $21.
Huang Industries is planning a proposed project whose estimated NPV is twelve million dollar. This estimate suppose that economic situations will be average.
Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.
Wilpen Corporation, a price setting company, manufactures nearly 80% of all tennis balls purchased in the US. Wilpen estimates the US demand for its tennis balls by using the following linear specification:
Run OLS to estimate the inverse demand function(P = f(Q)), determine how much confidence do you have in this estimated equation? Apply algebra to then find the direct demand function
Explain the term demerit goods and give examples of this and what are externalities? What are positive and negative externalities?
Tabulate or graph the results; Analyze and discuss the results, noting any interesting, tures
Recognize economic forecasts for real GDP, the unemployment rate, the inflation rate, a key interest rate, and the value of the dollar.
Now calculate the GDP deflator for 2011 and 2012 (assuming that 2011 is the base year). d) What is the rate of economic growth between the two years as defined byt he percent change real GDP. e) What is the rate of inflation between the two years?
The agency of Labor Statistics follows 5-steps to calculate Consumer Price Index. Determine three strengths and three weaknesses of the Consumer Price Index calculation.
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