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Suppose the supply function is Q=4P^2 and equilibrium quantity=36.What is the price elasticity of supply? What are the steps to find this?
For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
What difference does it make, if any, if technology is moving very fast in the market so that this game proves to be one-time-only simultaneous play?
What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?
In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..
If the elasticity of demand by students for students for MSOffice is 5, while the elasticity of demand by business professional is 2, and the marginal cost of producing another bundle of the office suite is $50, what are the profit mazimizing pric..
As the skill level (and therefore earnings rate) of, say, an architect, computer specialist, or chemist increases, what happens to his or her opportunity cost of doing other things? How is the time spent on leisure likely to change?
1 good reason why quantity demanded increases when its price falls is that the: a. lower price shifts the supply curve to the left b. lower price shifts the demand curve to the left c. lower price shifts the demand curve to the right d. lower price e..
suppose a women marries her butler. after they are married, her husband continues to wait on her as before, and she conitues to support him as before ( but as husband rather than as an employee). how does the marriage affect GDP
If Apple iPod only played iTunes, and iTunes only could be heard on the Apple iPod, could Apple price the technologically integrated bundle any way they wanted?
The federal Insurance Contributions Act tax is a payroll tax that finances Social Security and MEdicare. By law, employees each contribute 7.65 percent of the workers wages toward the events.
Compare the political scientist's view of government and economic policymaking and the Public Choice conception of politicians, bureaucrats and special interest groups in the political process. Which do you consider to be more realistic for unders..
Demand for a managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.00. Write the demand equation for which the price elasticity of demand is zero for all prices.
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