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With the recession, average incomes have fallen from $44,375 to $41,720. Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizmos that will be sold for the following income elasticities and explain what type of good a gizmo is in the eyes of consumers (you must use the income elasticity coefficient to explain your answer).
a) EI = 1.5 b) EI = 0.5 c) EI = -2.0
How does the BLS classify people who are "not in the labor force," and what people are often in this category? If an individual surveyed (that is, who is age 16 or over and no
I have some Microeconomics problem need to be solve, three Long question and 10 multiple-choice. If I give you four hours can you finish.
When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
define opportunity cost and how it is useful in managerial decision making?
objestive of williamson modle
COST benefit analysis Costs that are applicable in the project and the benefits that are associated with it are as follows: Risk occurs at different levels. It takes pl
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector D. government sector Explain
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.
Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
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