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Suppose a local bank increases the fees they charge for their bank accounts by 5 percent. In response, the demand for their bank accounts decreases from 35,000 to 5,000. What is price elasticity of demand for this bank's accounts?
Using the midpoint formula, the price elasticity of demand is _________. (Enter your response rounded to two decimal places.)
A firm has the production function Q=L times K. For this production function, MPL=K and MPK=L. The firm initially faces input prices w= $1 and r= $1 and is required to produce Q bar= 100 units. Later the price of labor, w, goes up to $4. Find the opt..
Create your own games. You will need to set it up one normal form for a one-shot simaltaneous game and one shot sequential move game. These should be seperate games - not the same parameters for both. What is each players dominent strategy? What is t..
In autarky, Jackson produces and consumes 30 units of cattle and 80 units of wheat, while Tahoe produces and consumes 80 units of cattle and 60 units of wheat. Based on this information.
If the official exchange rate of the British pound sterling were changed from $2.80 to $2.40 under an adjustable pegged exchange rate system, the pound sterling would be
Consider the following production function. Y=K^5 (AN)^.5 , where both the population and the pool of labor are growing by rate n=.07, the capital stock is deprecciating at a rate of d= .03, and A is normalized to 1. What is the form of this producti..
If a coal power plant considers the costs of labor and materials, as well as the broader costs of environmental injuries resulting from its power production processes then Its?
Under monopoly, still with the price PW which is again label triangle of consumer surplus and the triangle of producer surplus.
If county government offices required that all employees must live within the county limits, what impact would this have on the elasticity of demand for employees of the county government offices?
How can they be important to an argument? What are some of the problems one faces when they are trying to determine authorial intent? Is the author always right about what they intended? Might an argument have a meaning that the author did not intend..
Explain the impact the law of diminishing marginal returns has on both marginal cost and average total cost - with the aid of a diagram explain the long run average cost curve and the influences upon it.
q.for each of the following values for the mpc determine the size of the simple spending multiplier and the total
Suppose that the matching function is given by: M = em(Q, A) = eQ^(0.7)A^(0.3) Express pc and pf as functions of e and labor market tightness j. Suppose that z = 1, b = 0.4, e = 0.9 and k = 0.24. Suppose that w = 0.75 Find the unemployment rate in th..
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