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Suppose demand function for good 1 is X1=(2m)/(P1+2P2). Calculating relevant elasticities answer the following questions. Show your calculation.
a. Is this good ordinary or Giffen?
b. Is this good normal or inferior?
c. What is the relationship between this good and good 2?
q1. ellie and vince is a married couple explain how would you expect each of the following events to affect the amount
Should the government limit the amounts that juries are allowed to award victims of medical malpractice, so as to reduce malpractice insurance premiums and thereby lower health care costs.
Even though transport costs could allow for large variance, why is re a large variance. Do we see same sort of variance for prices in markets within a country that are segmented by large distance.
You are creating an online shopping company for winterwear where you make your own product and sell it online and the company ships internationally, production is done in developing country for cheaper production. You need to write a business plan fo..
Compute the percentage that alter in quantity demanded of plane rides and train rides.
From a firms short run production function, the marginal product of labor and the average product of labor may be determined. The average product of labor is:
q1. banking system presently has 200b of bank explanation none of which are excess. citizens clutch only deposits also
insist that this represents a rightward shift of aggregate demand curve. Who is right. Explain.
Under one reform proposal for the U.S. Social Security system, part of the Trust Fund would be invested in stocks. The idea is that stocks have paid a higher average rate of return than government bonds in the past. Explain why this policy would prob..
Share markets all over the world often increase or decrease together. What does a rise in the stock market indicate to you about the level of current and expected growth in the world economy?
Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus, it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit.
Two mutually exclusive alternatives are being considered for the environmental protection equipment at a petroleum refinery. One of these alternatives must be selected. Which environmental protection equipment alternative should be selected? the firm..
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