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Choose any one product that YOU hold an inelastic demand and any one product that YOU hold an elastic demand. Explain your reasoning to why your elasticity differs. Why may someone else hold a completely different elasticity?
Farmers whose crops were destroyed by the floods were much worseoff, but farmers whose crops were not destroyed benefited from thefloods, why?
Explain why would you expect the inflation rate to accelerate if the actual unemployment rate declined.
A country with a civilian population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed. On the basis of this data, answ..
The data given below shows the situation in 2010 and 2011 if Fed does not use the monetary policy,
Delmar Custom Homes (DCH) uses two types of crews on its Long Island, NY, home construction projects. Type A crews consist of master carpenters and skilled carpenters, whereas B crews include skilled carpenters and unskilled labor.
(1) Show that a profit maximizing monopolist equates marginal revenue in each market to the common marginal cost. (2) Derive mathematically the formulas for the price-elasticity of demand and for the income-elasticity of demand. Interpret both m..
On the other hand, you might also analyze in detail the effects of higher unemployment among a business cycle downturn.
For this week, answer all three of the following questions. Cite at least one example in your response for each question. You should reference your book to help you answer these questions. If you use additional sources, you must cite them. Your answ..
Consider the following infinitely repeated model between two firms. Each period, the firms earn profits of 10 if they successfully collude. If a firm deviates from the aggreement, it earns 15 in the period in which it cheats. In each period that t..
Discuss John Maynard Keynes' contribution to the theories of Macroeconomics. Why was he such an important economist.
Is energy efficiency the same as economic efficiency? Explain. Under what circumstances would the energy-efficiency automobile described her be economic efficient?
question 1a describe economic terms and concepts in question.b describe your reasoning leading from concepts in
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