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Which one of the following is true?
a. Nike has a less elastic demand curve than shoes.
b. Cigarettes have a more elastic demand than televisions.
c. Salt has a less elastic demand than ice cream.
d. The demand curve for gas is more elastic in the short-run than in the long run.
Consider if the government instituted a 10 percent income tax surcharge. In terms of the AS/AD model, this change should have
If the EU and the United States continue to trade what do you think will characterize goods which the EU exports to the United States and the goods that the United States exports to the EU.
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept.
An economy has 110,000,000 people employed 8,000,000 unemployed, and 4,000,000 discourage workers. The conventional measure of the unemployment rate is what percent?
What can you say about the price elasticity of demand for DVD players. What will this price reduction necessarily lead to an increase in profits for DVD player manufacturers.
The NHFishercats are debating whether to build a new restroom in the leftfield area near the patio adjoining the bar/restaurant located there
q1. individual has a utility function described by the equation u2xv. the price of x is 32 every item whereas the price
external benefit generated by sale of marginal widget is $100, regardless of how many widgets are purchased.
If we accept the conclusion that librarians are more vital to the country than professional football players, explain why are librarians so poorly paid in comparison.
Ted’s utility function characterizing preferences over apples and bananas is U a,b= 4a + 6b^2. . How many apples does Ted demand if Pa= .5 and Pb=1 , and he has $10 to spend?
What is the equilibrium after aggregate supply changed? If potential GDP is $1 trillion, does the economy have an inflationary gap, a recessionary gap, or no output gap?
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