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Suppose that the price of gasoline at a particular station two months ago was $2.80 per gallon (keep it simple-assume one grade of gas). The past month, the price of gas was $3.10 per gallon. Assuming 20,100 gallons were sold two months ago and 20,000 gallons were sold last month, use the point formula to calculate the price elasticity of demand for gas at this station. Based solely on your calculations, is the demand for gasoline elastic or inelastic? If sales of Almond Joy bars at the same gas station's convenience store decreased over the same time frame, what relationship do gasoline and Almond Joy bars have? Do you have enough information to calculate the cross-price elasticity of demand for gas and Almond Joy bars? If so, make the calculation. If not, explain why not. Show all calculations.
Define the terms “individualism,” “associationalism” and “corporatism” as approaches to the political activity of business compare and contrast.
If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the Federal minimum wage?
what is inflation? what are the causes of inflation? is inflation desirable and what can be done to control inflation
Your company is trying to decide whether to raise the price of your product from $$7.5 by $0.50 or lower it by $0.50. Given the above information what would you recommend if the sole goal of your firm is to increase the total revenue?
Why do cities exist? Why don't we all just live on large lots of land in Texas/rural Ontario/etc? We could be self-sufficient and avoid all the hassles of city life.
desired consumption for an economy is given by the equation cd 1000 .6y - 4000r. government purchases are given by g
In a small open economy in a flexible exchange rate system with perfect capital mobility, there is complete ________ crowding-out of ________ policy.
Determine how diversified the company you research could become before it created a negative impact on the company's bottom line. Explain your rationale.
Which of the following statements best states the demand for agricultural commodities?
Normal 0 false false false EN-US X-NONE X-NONE You expect to receive a pay..
Desscribe some of the trade-offs faced
According to this week s lecture, there are two types of inflation (demand pull and cost push). Which countries are experiencing a demand pull inflation? ? You may need to complete additional research to determine the inflation type for each country.
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