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Medium household income in County C is $54,021. Medium household income in Country D is $28,739. In County C, 17.4 percent of residents smoke. In County D, 28.4 percent of residents smoke. What is the arc income elasticity of demand for tobacco use?
Arc elasticity of demand:
The movement in the direction of a market-based system with freely determined prices, competition, profits, private ownership, and other features of capitalism is not simple. Discuss some of the challenges associated with an economy transitioning fro..
Why might the Homo sapiens production possibilities curve have shifted outward to the right much more rapidly than those of Neanderthals.
Explain why only two of the three objectives can be achieved at any point in time also they want to fix the nominal exchange rate, in order to stabilize the price level.
q.you are the manager of a large automobile dealership who wants to learn more about the effectiveness of various
Discuss what happens to the demand and or supply and to the equilibrium price and quantity in the market for housing as population increases and at the same time the government releases more land for housing.
Illustrate what is the difference between the firm's short-run supply curve and its long-run supply curve? Make up an actual example to explain your answer.
Find out industry's profit-maximizing cost and quantity. Illustrate what is its profit. industry's production manager claims that industry's average cost of production in minimized at an output of 40 units.
Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person is growing at 1 percent per year, and Poorland’s is growing at 3 percent per year. Compare real GDP per person in the two..
if Night Timers plans to sell 125,000 rolls per year, Illustrate what is the necessary price if the firm is to break even
q1. the price of a laptop increases by 20 and there is a 40 drop in the quantity demanded. the price of a pack of
Explain the effect of the following events on the interest rate in the loanable funds market. Demonstrate you answer graphically. tax revenue is lower than expected and people expect cities to default on municipal bonds. They sell thier bonds and..
Which of following claims concerning importance of effects that explain slope of U.S. Aggregate demand curve is correct.
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