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Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will change if:
a. The price of good X decreases by 5 percent.
b. The price of good Y increases by 8 percent.
c. Advertising decreases by 4 percent.
d. Income increases by 4 percent.
Compare the two cases and summarize the effect of collateralization on the other terms of the loan. Does it increase or decrease the welfare of the borrower and the lender.
a change in environmental regulation has dramatically raised the price of a substitute chemical that indirectly competes with T3MP. This change undermines the market for the substitute, which is about twice the size of the market for T3MP.
Find out the optimal price-quantity if the firm is not able to price discriminate.
illustrate what would be the government spending multiplier. What would be the taxation multiplier.
Economic laws are established in order to make successful prediction of the outcome of human action.
The production function is given by f(x)=4x^1/2. If the price of a commodity produced is $60 per unit and the cost of the input is $20 per unit, how much profit will the firm make if it maximizes profit?
Suppose the firm chooses this input combination. What is the firm's short run cost function? What are the firm's fixed costs? What are the firm's variable costs?
The Department of Public Works also Highways (DPWH) is considering the construction of a new highway through a scenic rural area.
Devote too few resources to the creation of knowledge. Explain how does the U.S. government correct for this apparent market failure.
Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964
Utilize these values at this point on demand to make the subsequent computations.
Why is it being used to hold "illegal combatants" instead of a military prison in the United States
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