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A) IF the price of a slice of pizza rises from $2,50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity what is the percentage in price?
B) If a consumer increases her quantity of ice cream consumed by 1005 WHEN HER INCOME RISES BY 255 then her income elasticity of demand for ice cream is?
C) The market demand for wheat is Q=100-2p+1pb+2y. If the price of wheat, p, is $2, and the price of barley, pb, is $3, and income, Y, is $1000. Then what is the income elasticity of wheat?
Suppose a ?rm’s cost function is given by C(Q) = Q^2 + 100 over the interval [0,10]. Sketch this function and then draw a secant line that connects the points 1 and 5. What is the range of this cost function? Is this function concave or convex? How d..
US citizens spend more on iphones/smartphones than the citizens of other countries, yet this type of spending is seldom described as a problem. Why is spending more on healthcare different?
for a child i living in a particular a school district let voucher be a dummy variable equal to one if a child is
What is the Bretton Woods system? Why was it created and why did it collapse? How has this collapse ushered in more volatile exchange rate and frequent financial crises?
The average rate of growth for slow-growth countries is around 2% per year, and for fast-growth, greater than 5% per year. Suppose the growth rate of the economy is 2%. The size of the economy roughly doubles every: Economic growth is important to u..
Identify their corresponding production and consumption points. Can you identify the country having a comparative advantage?
According to the Centers for Disease Control and Prevention, a 40 year old woman has a 15 in 10,000 chance of dying in the next year. Assume that payouts on policies are the insurance company\'s only costs. Round your answer to the nearest whole doll..
You have $3,100 you want to invest in your classmate’s start up business. You believe the business idea to be great and hope to get $3,950 back at the end of three years. If all goes according to the plan, what will be the return on your investment?
Discuss and illustrate graphically how a decrease in saving rate will affect the steady state level of capital and output. Also illustrate graphically the transition of capital and output from their old steady state level to new one.
Suppose autonomous consumption is $500, government spending $1,000, panned investment is $1,250, and net exports are -$250 and the MPC is 0.8. What is the equilibrium value GDP?
Evaluate Gatorade’s decision to launch the new G Series product line and the challenge this represents to the company from an integrated marketing communications perspective.
Please consider a product that has five different price points per unit: $100, $200, $300, $400, and $500 find out the corresponding Quantity Demanded (Qd) and Quantity Supplied (Qs) from the following two equations: Demand equation, Supply equation.
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