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If the price of cheese is marked down during a sale by 20% and in response the quantity demanded (sales) increase from 30 packages to 45 packages what is the price elasticity of demand? Is demand elastic or inelastic?
if the person withdraws $12000 at the end of each year, after how much years will the savings be exhausted?
If a country is currently producing 11 units of health care and 16 units of education, what is the opportunity cost of producing 5 more units of education?
Illustrate what might account for these trends. Compute currency in circulation as a percentage of M2.
q1. would you expect firms in a tight oligopoly market reap higher profits than firms in a loose oligopoly market?
Find the following probabilities for a sample of n = 10 trainees selected at random. Two or more are rated as outstanding. None of the trainees are rated as unsatisfactory.
disposable personal income decreases by $50 billion and trade deficit is reduced by $15 billion. By how much has national income (Y) change.
Calculate the following: quantity, total revenue and profit when the company maximizes its profit and charges the same price in both markets.
What is the probability that the cost will be between $300 and $400? (to 4 decimals) d.If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit?
q1. an individual wants to start a business at which he expects to make 50000. getting a license for the business costs
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Illustrate the entry barriers exist in the fast food industry. Compute the labor participation rate: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150.
Policies established by the World Bank and the IMF have been the subject of much criticism, especially from the developing world. Why might developing world nations be critical of these policies? Do you think the policy actions are justified? Explain..
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