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1. Suppose the demand for a product is given by QD = 2000 - 25P.
a) Calculate the Price Elasticity of Demand when the price is $30.
b) What price should the firm charge if it wants to maximize its revenue?
c) Over what price range is demand elastic?
How can we define the real wage as nominal wage We define real wage as nominal wage divided by a price index (typically CPI). In the illustration above, your real wage was 20 i
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what measures should be taken to raise the productivity of the workers?
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#questionKeynes liquidity Preference theory stipulates that money demand is negatively related to current income and positively related to interest rate..
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