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Suppose that the town of Grayrock had a population of 10,000 in 1998 and a population of 12, 000 in 2003. Assuming an exponential growth model, in what year will the population reach 20,000?
Explain how each of the following will affect the relative values of the dollar and the euro:
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Assuming that there are only two goods, and the other good (food) is capital intensive, show the equilibrium points of production and consumption in ALFA, before and after trade.
Using a supply and demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.
What are the FC, ATC, AFC, AVC and MC at these output levels?
Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...
Suppose that a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed the following levels of production corresponding to different numbers of workers:
In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?
Suppose you want to produce WIDGETS in your country. The international price of an imported WIDGET is $50 and pays an import tariff of $10 per unit. Three inputs are needed to produce a WIDGET.
In recent years, consumption spending by households has accounted for about 70% of the total spending (aggregate demand) in the U.S. economy.
Evaluate the range of marginal revenues
The Wozniak Corporation, a maker of aircraft engines, determines that in 2008 the demand curve for its product is as follows-What is the price elasticity of demand if price equals $500?
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