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What is brand loyalty? Name three products each for which you have (a) high brand loyalty and (b) low brand loyalty and explain why for each of the six products.
q.suppose two individuals smith and jones each have 10 hours of labour to devote to producing either ice cream x or
How is elasticity related to revenue. How is diminishing marginal returns related to cost. How are revenues and costs related to profit.
Give an example of how nations can benefit from trade on the basis of comparative advantage. Explain how both parties can share in the gains from trade.
q.use demand and supply curves feel free to use graphical depictions but it is not required to help you determine the
Assume the Bank of Japan allowed the money supply to grow by 2% each year while the Bank of Korea chose to maintain relatively high money growth of 12% per year.
if the demand for labor is elastic because the demand for labor will decrease more when you have elastic demand than if demand were inelastic.
Given the importance of the M-Pesa to the rising economic growth of the Kenyan economy, why would Kenyan government take 10% tax off the employees pay check?
The economy has two sides. One side is the aggregate demand side. Elucidate the relationship between the price level and the quantity demanded of Real GDP.
q1. liliana sells dvds. it costs her 40 an hour to keep the store opem 500 for monthly rent and 3 an hour for
People are lured by the idea of 50 mile per gallon vehicles which still perform well also are willing to pay the high prices to get one.
Suppose the welfare benefit formula is Benefit=$4,800-0.67(wages>$6,000) what is the marginal tax rate on The first 6,000 of wages? Wages above 6,000 How large is the benefit if wages equal $0? $4,000 and $4,800, $9000 and 7,000? What is the breakeve..
Describe the long-run effects of patent expiration on prices, output and profit in a monopolistic industry.
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