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Would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate level? Why?
Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right?
How important were price considerations in making your college decision?
Would a change of a few thousand dollars have mattered?
Would you expect the price elasticity of demand to be higher for financial-aid students or for non-aid students? Why?
How does a student's income elasticity affect the demand for higher education at College?
There're 10 auto firms in this problem each showing their market share percentage (US auto industry). The proposed merger involves Ford 22% and BMW 1%.
Robo-mower will only cut grass within its programmed area and it will avoid flower beds, rocks, sidewalks, etc., while you sit in the hammock, enjoying the summer! An emergency "cut-off" switch brings it to a full stop in one-quarter of a second.
1. a consumer always spends 40 of his income on good x and the remainderon good y. the price elasticity of the demand
A rise in the price of coffee beans, which is a material for a cup of coffee, is responsible for these observations.
Evaluate the following statement: Even if the prices of a large number of goods and services in the economy increase dramatically, the real GDP for the economy can still fall.
The government has imposed a tax on gasolone. What is the amound of the tax per gallon of gasoline How much tax revenue will government collect from this tax How much of the tax is paid by consumers
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of
The Business Cycle is the short-term fluctuations in the economy relative to the long-term trend in output; the recurring and fluctuating levels of the GDP growth rate over time.
Review government policy concerning educational reform and determine the best possible way to proceed. Explain your rationale.
Describe the opportunity and accounting costs of "Going Green." Use a specific example to illustrate your point. For example, purchasing a Chevy Volt.
Who sells permits and how many do they sell Who buys permits and how many do they buy Briefly explain why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation?
Assume that the price of the consumption good (denote it by P) is exogenously given and equal to 2. Use W to denote the hourly nominal wage in the economy
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