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When the price of a cruise rises from $19,500 to 20,500, the quantity demanded decreases from $2,100 to 1,900 travelers. Use this information to calculate the price elasticity of demand for cruises. The price of a cruise increased by-------percent. The quantity of cruises demanded decreased by---------percent. So the price elasticity of demand for cruises is --------percent. Please help me , show the work.
Suppose that Best National Bank currently has $100,000 in demand deposits and $70,000 in outstanding loans. The Federal Reserve has set the reserve requirement at 20%.
Fair cross Farms harvests its crops four times annually and receives payment for its crop 90 days after it is picked and shipped. However, planting, irrigating, and harvesting must be done on a nearly continual schedule.
ellen and may can produce two goods in a day breakfast bars and frog food pellets. in a single day may can make 10
Each of the following events will result in either an import or export to be recorded in the current account or the capital account of Vidinland, an imaginary small country in eastern Europe. For each one, say whether it will be a current account imp..
Draw ppf how each of the following events effects the location of a country's production possibilities curve a. the quality of education increases b. number of unemployed workers increased c. new technologies improves the efficiency of extracting cop..
Ace contracted with Jones to do certain remodeling work on the building owned by Jones. Jones supplied the specifications for the work. The contract price was $70,000. After the work was completed, Jones was dissatisfied and had Clay, an expert, comp..
What is the value today of a security that promises to pay $1,000 in one quarter, with payments increasing at 1% per quarter thereafter? Payments are made each quarter forever. Our opportunity cost of capital is 12% per annum.
To encourage energy efficiency of homes, government offers tax credits for families that spend money to improve energy efficiency of their homes. Use a market model (graph) for home insulation products to show how the tax credit will influence the eq..
In Akerlof’s lemons problem, with symmetric information, suppose that 5 cars are available in equal quantity and with quality levels 0, 1, 2, 3, and 4. Suppose the sellers have a reservation price of $2,000 per unit of quality, and the buyers value c..
Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related. Explain how sellers' costs, producer surplus, and the supply curve are related.
Suppose that you are a legislator in New York considering whether to exempt people using Airbnb from the rule that rooms in private homes have to be rented for at least 29 consecutive days. What considerations would you take into account in making a ..
Illustrate what fraction of the total variation in trades of Bright Side remains unexplained.
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