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An increase in the consumer price index will often affect different groups in different ways. Think about how different groups will purchase items such as housing, travel, or education in the CPI basket, and explain why they will be affected differently by increases in components of the CPI. How would you calculate an "urban CPI" or a "rural CPI"?
Given the following examples determine and explain which types of elasticity of demand you are able to calculate, and then calculate using the formulas given in the textbook. After calculating please interpret the calculations.
quantity of Chrysler Crossfires sold annually, PC is the price of a Chrysler Crossfire, M is average household income, PBMW is the price of BMW's 330i sports sedan, and PP is the price of Porsche's Boxster S sports car. The marketing team at Chrys..
Advance Analysis Assume that the consumption schedule for a private open economy is such that consumption C=50+0.8 Y. Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP
TP TFC TVC 0 $45 $01 45 170 2 45 320 3 45 450 4 45 620 5 45 800 6 45 ..
In each case, draw a budget line that shows her available choices, and indicate her best choice by adding indifference curves. Assume that Jane only cares about the number of peanuts, and not about the size of the bag.
Briefly describe the strategy
Assume a natural monopoly with total costs C=500 20Q. Market demand is Q=100-P. a) Suppose that average cost pricing is employed. Find price, output, and the deadweight loss. b) Now consider two-part pricing.
Consider the story: Sonya earns $900 per week working as a nurse at Mercy Hospital. She uses $300 to purchase a recliner at Sears. Sears pays Victoria $800 per week to work as a sales associate. Victoria uses $400 to purchase medical services at Me..
What are externalities? What are positive and negative externalities? Give examples of Positive and negative externalities and give a brief introduction about your chosen merit good and explain the role of government in providing this merit good to..
How do the effects of tariffs differ from the effects of quotas
List the similarities, paragraph-by-paragraph, between the two reports
Suppose that 1984 the total output in a single good economy was 7000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume that in 2004 the price per bucket of chicken was $16 and that 22,000 bucke..
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