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Q. Calculate the income elasticity of demand for product X when I= $30. Explain how could we categorize product X? Do you reflect on commodity X a cyclical or non recurring good? Explain why. Do you consider product X a necessity or luxury good? Explain why. Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place?
At what price would demand be unit elastic, assuming all else equal. Justify your answer
Develop hypothetical supply and demand schedules for your good or service. Plot the schedules onto your graph and label the curves with D for demand and S for supply.
Illustrate what will be the most likely new equilibrium price level and output.
when given 5 costs also quantities over 5 months also asked for the arc cost elasticity of demand.
Find out the Nash equilibrium cost for the two diners. How many breakfast club memberships will each diner sell in Nash equilibrium.
MMM expects to generate $60,000 in earnings that will be retained for reinvestment in the firm this year.
Illustrates what have presidents justified under principles of "immediate needs of nation" and a mandate from people.
q.the pbp company acquired a warm n cook heat treating furnace so that it can properly heat treat parts for its high
Given the difficulties which the regulation of public utilities faces that would it not is better to nationalize public utilities as several European countries have done.
What is the difference between the rate of return between dollar and euro deposits? Is the prevailing exchange rate at an equilibrium level?
A business cycle fact is that real wages are pro-cyclical. Using the classical labour market as we have all semester, show and explain how the classical economists explained this business cycle fact.
Why is a vending machine, which requires payment for each snack purchased, used to sell snacks, while a newspaper can be sold out of a box that allows anyone to take more than one paper?
Explain how has the recent natural disaster in Japan influenced the provider of Toyota automobiles.
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