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Although water is essential to life no matter where one lives, the demand for water differs across regions. In one study it was found that the price elasticity of demand for water in all regions of the United States ranged from 0.39 to 0.69. a. Why is the demand for water price-inelastic? b. In those regions where outdoor use of water makes up a relatively large portion of total use, the price elasticity is high. Why? c. The demand for water in the summer months is greater that the winter months, Explain why.
Adding four or more flights to existing routes, it will have to add two pilots also flight attendants.
Should we remove all barriers to immigration into the United States? What would be the outcome? If we could let in an extra hundred thousand immigrants every year, should we favor certain immigrants over others? Why?
Assuming: Price is $80 demand and total supply is 32, OPEC supply is 13 and Non-OPEC supply is 19. Short run world demand Price elasticity is -0.5, long run is -0.30. The short run OPEC price elasticity is .05 and the long run is 0.30. What is the lo..
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the inco..
What is the firms revenue function? Graph this function. Give a plausible reason why a firms demand might look like this.
What are insurer practices that attempt to solve problems caused by the traditional, full-coverage, fee-for-service type insurance contracts?
Integrating Problem Samantha Roberts has a job as a pharmacist earning $ 30,000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $ 40,000 per year or to purchase a pharmacy that generates a revenue of $..
show the new quantity demanded at that price as we did in class. Also, show that the new total revenue will be greater than then old total revenue.
q1. what is the definition of sanford gordon in economics?q2. what is the relationship among marginal product and
Consider an economy with the following production function: Assignment 3 Y = AK.5L.5 The labour force is constant. The rate of depreciation is δ = .1, the savings rate is s = .3. a. Has this production function constant returns to scale? Why?
One form of price discrimination is bundling. Rather than make up a problem and require you to solve it, you make up a problem for me! Here are the rules: Keep it simple: 3 consumers and 2 goods. The good has zero marginal cost of production and no f..
Prepare and submit a one or two page abstract of your topic as well as a short outline of your paper's proposed organization. The abstract and outline should be submitted in WORD format. Thank you
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