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The demand for pencils by New York University students at the bookstore is given by the following equation, , where I is the average income of nyu students, in dollars per week, Q pencils is the quantity of pencils sold per week, and Pencils is the price per pencil, in dollars. Last week, the average income of New York Students students was $100 per week and the bookstore sold pencils for $1 each.
What was the price elasticity of demand last week?
Find what income elasticity of demand was last week.
Decko Corporation is a United State firm with a Chinese subsidiary that produces cell phones in China and sells them in Japan. This subsidiary pays its wages and its rent in Chinese yuan,
Calculate Jill's economic profit and what makes economic profit different from accounting profit and find the profit- maximizing price and quantity in each market.
Exam: 050476RR - EXTENSIONS AND ISSUES; INTERNATIONAL ECONOMICS - The very poorest low-income developing countries typically have relatively and which one of the following groups of economists is most likely to favor annually balanced federal budgets..
Assume that the government buys are increased from 100 to 150. How much does the IS curve shift? What are the new equilibrium interest rate and level of income? Describe it.
Suppose if the U.S. productivity growth does not keep up with that of its trading partners, the U.S. will quickly lose its international competitivesness and not be able to export any products, and its standard of living will fall.
Explain at least three important distributional challenges associated with global climate change policy also describe four of the advantages of global price approaches to climate change advocated by Nordhaus.
I would have selected JEL industries as it is located in a nation which is part of the European Union and using Euro as its currency.
The economy's Investment Function, indicates that when the expected real rate of interest increases agents in the economy respond and what happens to the import price of this tablet and the number of tablets imported into the US?
Provide three arguments for trade restrictions. Since economists do not trade restrictions, make the case as an economist against trade restrictions for these three items.
Should the U.S currency be backed by gold Recently the dollar has been losing value and there were a few countries advocating a change from using the dollar as the "international" currency (for example petroleum on the international market is boug..
Suppose that the exchange rate adjusts so that interst-rate party holds. Suppose also that the interest rate on a one-year German bond is 7 percent and the interest rate on a one -year U.S. bond is 4 percent. What is the exchange rate today.
Identify the process by which the company identifies and raises funds for capital investments. Describe the cost structures of these funds from both internal and external sources.
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