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1. If the demand for a commodity is elastic, an increase in the price of the commodity
a. Will increase revenue
b. Will decrease revenue
c. Will have no effect revenue
d. May increase or decrease revenue
2. Assume the cross price elasticity of demand for products A and B is positive. Then, the products must be
a. Complements
b. Substitutes
c. Electronics
d. Automobiles
Describe the tragedy of the commons. What problems are presented by the tragedy of the commons for moral evaluation of technological development? How would you address these problems?
Calculate the own price elasticity of demand for the demand curve P= 15-3X at prices and compare the outcomes.
Describe "Cap and Trade" as it relates to reducing a country's greenhouse gas emissions, in at least 3 content-rich sentences.
Macroeconomics: How does government borrowing crowd out investment? What is the relationship between government borrowing and budget deficits?
What would the Consumer Surplus, Producer Surplus, and Total Surplus be for the quantity demanded =1000-P and the quantity supplied =3P-120?
what quantity would they choose? If the oligopolists do not act together but instead make production decisions individually.
Households deposit $5,000 in currency into the bank that is added to reserves. Illustrate what level of excess reserves does the bank now have.
AB acted as a well-managed business that takes actions necessary to remain competitive in a competitive market.
Application Coal mining believes that it can increase labour productivity and, therefore, net revenue by reducing air pollution in its mines. Explain how much pollution reduction should Appalachian Coal Mining Undertake.
Compute only the arc elasticity. So by using the midpoints formula, for this family, the price elasticity of demand.
The amount of money generated in a week can be viewed as a random variable with a mean of $700 and a standard deviation of $130. Find mean and standard deviation of an employee's total pay in a week.
You will need to review the activity resources and then research credit risk so you will better understand the benefits and detractors of credit risk, then respond to the questions listed:
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