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You work at a Gazebo company (Shady Tents) and you hire an economist to estimate the price elasticity of demand for your product, and the estimate is .9 (in absolute value) and this has been fairly stable over the last year.
a. Are you profit maximizing, or do you need more information (and if so, what information)?
b. Should you raise or lower the price of your product or do you need more information (and if so, what information)?
During the past year, gasoline prices have been very volatile. One reason given for at least some of the volatility is the threat of war between Israel and Iran. More recently, there has been a report of serious fire damage to Venezuela's largest ref..
Sketch a diagram that illustrates what happened to the Bridgewaters' budget constraint. Could they have been made worse off by the change.
Provide an example for each about decision-making, interaction and workings or economy. Elucidate how that influences marginal profits and marginal costs associated with decision to purchase a new home.
Indigenous Australians have the worst health of social groups in Australia. Describe two social determinants that contribute to a lower life expectancy for Indigenous Australians. Identify one condition that Indigenous Australians have a higher preva..
Doing the work on paper and then writing the answers in Excel does not count as work and will earn zero points for this part of the assignment.
q1. you have the following information for your productbull the price elasticity of demand is -0.9.bull the income
Elucidate using a graph why the change in real GDP is likely to be smaller than the shift in the aggregate demand curve.
Peggy Sue's cookies are the best in world, or so I hear. She has been offered a job through Cookie Monster, Inc., to come to work for them at $125,000 per year.
q.suppose there are 2 economies. in each economy there are 2 outputs bacon and eggs which are produced with perfectly
Illustrate what steps do you suggest that it take in order to balance its budget. What would be the affect on you if it takes steps to balance its budget, or Illustrate what would be the affect on you if it does not.
Calculate the present value of an annuity with annual deposits of $10,000 at 7% for 10 years. Determine the monthly payment to amortize a $250,000 debt at 3% for 30 years.
Does economic growth necessarily involve a parallel outward shift of the production possibilities frontier?
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