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Q1. When the price of ketchup rises by 15%, the demand for hot dogs falls by 1%, b) Are the goods complements or substitutes?
Q2. What happens to net personal income when the government raises taxes? When the government lowers taxes? How is GDP affected by higher taxes and Lower taxes? What other economic factors are affected when taxes are raised or lowered, and how are they affected? Should the government increase tax rates on everyone as a way to equalize incomes and wealth?
In which of the two cases, if any, do you think which demand has increased more rapidly than delivery. Explicate your reasoning. Write your answer in essay format.
Suppose we only use labor in a production run. How do we determine the optimal level of labor input in the short run? In other words what condition must be met
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries. What weakness does this measure have.
Discuss some of the decisions that you must make in the short run and what might you consider to be your "fixed factor"
The following is intended to explore what kinds of cross-price demand relationships are logically possible in a two-good model with exogenous income.
If a random sample of 400 clients is elected, what is the probability of Type I error using this decision rule.
If a sample of 110 artists was taken, find the average value above which only 15% would lie. Give your answer in dollars to the nearest dollar.
Converse Elucidate how you might go about evaluating the rate of return for the new equipment.
determine which of the risks involved holds the most risk to the subcontractor.
what single payment at the end of year 5 is equivalent to an equal annual series of payments of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 8% compounded annually
There are about 34,000 full service restaurants in Miami-Dade County, Florida with a population of about 2.5 million. What type of market structure is the restaurant business in Miami-Dade County? Are there submarkets with distinct characteristics? E..
Elucidate five specific actions which can be expected to cause the equilibrium of ice cream to increase.
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