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Identify a product that you regularly consume, such as soft drinks or a particular snack food. Describe how your demand (consumption) will be impacted by a 25% price increase. Conversely, how will your demand (consumption) change if the price drops by 25%? Is your demand for this product elastic or inelastic? Explain why.
question oneaustralias economy is currently described as a multi-speed economy.critically discuss this.question
Elucidate that the indirect utility fuction of quasi convex function of prices and income
The individual demand curves for food for 2 households. These are household A and household B. The demand for household A for food is given.Calculate the market demand for food.
Describe three ways we can use macroeconomic analysis, with one original example for each way. You are running a small yard maintenance business for the summer.
If velocity is unchanged and the money supply grows by 13% and the real GDP grows by 4%, what is the rate of inflation?
Provide a report to management of the firm as to whether or not it should continue to operate at a loss?
Nico Nelson, management trainee at a large New York based bank is trying to determine the real rate of return expected by investors. He notes that the 3-month T-bill currently yields 3%,
calculate the price elasticity of demand for the following products and state whether demand is price elastic inelastic
Let us say that an economy has a consumption function given by C = 900 + 0.9Yd where Yd is the disposable income. There is a lump-sum tax of 90. Investment level is autonomous at 400 and government spending is also constant at 600.
Suppose that benefit rules are changed so those disabled workers who take jobs that pay less than $X per day receive a benefit that brings their total daily income (earnings plus the DI benefit) up to $X. analyze the work-incentive effects of the c..
Airline travels (good X) and driving interstates (good Y) are known to be substitute goods. suppose that a leading airline offers a steep discount on all routes. In the context of the market quantity supplied and quantity demanded diagram.
Without budgets, how does a company know what target they are trying to achieve relative to revenue or costs? Should a budget be for one year or several Do we budget only for current expenses or budget for capital improvements also
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