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Suppose you were a store manager and wanted to increase total revenue for the store by lowering the price of a good. What type of elasticity would have to exist in order for you to be successful? 2. The tax on gasoline is almost entirely paid by the consumer. Why is this the case?
1. Do you agree with the necessity for autonomy as defined by the cognitive theorists Why or why not 2. What kinds of all-or-nothing thinking have you detected in yourself? How will you stop it
why do we consider a business-cycle expansion different from long-run economic growth why do we care about the size of the long-run growth rate of real GDP versus the size of the growth rate of the population
Assume you can only consume good X and Y out of abudget of $120. Your utility function is U = ln(X)+ln(Y ).
1) Suppose that ms. Spencer is presently spending all her budget purchasing 10 units of A and 8 units of B at prices of $2 and $4 respectively. The marginal utility of the last units of A and B are 16 and 24 respectively. These data suggest that..
Marginal utiltiy of good b, but the proce of good Ais only 2 times the proce of ggod b. Is this point consumer equilibrium? if not what will occur?
What information did you have or obtain that helped make your decision a well-informed one.there something you didn't know beforehand.
explain why the productivity standard for the distribution of income entails rewarding people based on their contribution to societys total output. why does the productivity standard typically fail to yield an equal distribution of income
Suppose there are two technologies for producing steel. Under technology A, a firm's short-run total cost function is STCa(q)=1/2q^2+100q+10 with SMCa(q)=q+100, and using technology B it is STCb(q)=2q^2+6 with SMCb(q)= 4..
The velocity of M1 money has moved erratically in the past several years because Answer of low and stable rates of inflation of regulatory changes allowing banks to pay interest on checkable deposits interest rates have been stable monetary policy..
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips curve.
Discuss why is increasing per capital income necessary but not sufficient for broadly dipping poverty and improving human welfare?
You were recently hired to replace the manager of the Roller Division at a major conveyor manufacturing firm, despite the manager's strong external sales record.
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