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Q1. Jerry drives up to a gas station. Before looking at the price, he places an order and says, "I'd like $10 of gas." What is Jerry's price elasticity of demand (in absolute value)? 0.5,1 Or infinity? The answer would be zero if he did not care for the cost, but since he is limited by $10, what is the answer?
Q2. Consider a college town where the initial price of apartments is $400 and the initial quantity is 1000 apartments the price elasticity of demand for apartments is 1.0 and the price of elasticity of supply is of apartment is 0.50 use the demand and supply curve to show the initial equilibrium point a?
Suppose that on January 1, the price of one hundred yen was $0.80 and PPP held. Over the year, the Japanese inflation rate was 5 percent and the U.S. inflation rate was 10 percent.
How much does consumption change this year in absolute dollars ($ ΔC) as a result of a $5,000 annual tax cut to your income, if the tax cut.
The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve and the Justice Department.
Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
A competitive firm that is profit maximizing pays a wage. The firm has started marketing its new product.
The government plans to rise state spending by $2bn in the next fiscal year.
Solve for steady-state level of captial and output. What savings rate would be necessary to achieve a steady-state output of 150.
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
Compare and contrast the way Classical and Keynesian theory determine the Demand for Money and how it is related to the Money Supply
Can you think of circumstances in which each industry would exhibit the same capital-labor ratio in both countries.
the industry that this claim were untrue, what critical questions could you ask about the HHI used for the study
How would I find out by how much the price of water needs to be raised to reduce demand by 40% if the price of elasticity is 2.0.
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