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1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):
CONSIDER THE DEMAND CUVE Q=100-50P DRAW THE DEMAND CURVE AND INDICATE WHICH PORTION OF THE CURVE IS ELASTIC ,WHICH PORTION IS INELASTIC AND WHICH PORTION IS UNIT ELASTIC
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply 1) Constant-cost industry Long run supply is horizontal Small increase in price will induc
describe returns to scale and give examples of each.
1. An investment in flood control infrastructure today will generate $1,000,000 in benefits 10 years from today. Using a 3% discount rate what is the present value of these benefi
explain the managerial decision areas
a. Determine Australia’s market equilibrium for TV sets. i. (1) What are the equilibrium price and quantity?
Why total product continues to increase despite a decrease in the marginal product?
Write a 1-2 page summary on markey failure
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