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Explain the factors influencing the value of PED and yED.
PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closeness of substitutes, time frame included, proportion of income spent on good.
YED depends on whether the good may be considered normal or inferior.
1. Definition: AGE-SPECIFIC DEATH RATE is the total number of deaths to residents of a specified age or age group in a specified geographic area (country, state, county, etc.)
draw the supernormal curve
Ali Pizza’s production function is shown in the table above. Ali currently operates Plant2. He hires workers at a wage rate of $50 a day and his total fixed cost is $150. a) Calcul
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List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
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