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Q. You are given the market data that says when the price of Cake is Rs. 60, the quantity demanded of Cake is 80 slices and the quantity demanded of cheese bread is 120 pieces. When the price of Cake is Rs. 30, the quantity demanded of Cake is 100 slices and the quantity demanded of cheese bread is 100 pieces.
(i) Can the price elasticity of demand be calculated for either good?
(ii) If so, calculate the price elasticity of demand for each product.
In country B the opportunity cost of 100 gallons of beer is 0.95 tons of cereal. Both countries can experience gains from trade if the exchange rate for a ton of cereal is 96 gallons of beer
When the bookstore announces a 20% price increase in new texts and a 10% increase in used texts for next year, Guojun's father offers him $80 extra.
Why is monitoring and controlling the project cost important for the success of the project.
For each level of output except zero output, calculate the average variable cost, average total cost and average fixed cost.
Does the aggregate demand-aggregate supply model support Bernanke's thesis.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
Consumers buy from the lowest price firm, and the highest price firm sells nothing. If the firms pick the same price, they split the market demand equally.
In 2020, Ahmed decides to invest in a wind turbine that would produce and sell electricity to the local electric utility. He decides to buy a smaller, used turbine.
discuss the major types of financial intermediaries in the U.S. and illustrate the differences in the way assets and liabilities are recorded on their balance sheets
Challenge of any merger that raises the HHI by 100+ points in a market where the HHI is above 1800 before the merger.
Rain spoils the strawberry crop, the price raises from $4 to $6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week
Proposals for modifications of the law are formulated by committees. Under the closed rule, the legislature may either accept or reject a proposed modification, but may not propose an alternative.
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