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Two drivers --- Tom and Jerry --- each drives up to a gas station. Before looking at the price, each places an order. Tom says, "I'd like 10 gallons of gas." Jerry says, "I'd like $10 of gas."
• What is Tom's price elasticity of demand and what does his demand curve look like (either verbally explain the shape of the demand curve or give an equation for the demand curve)?
• What is Jerry's price elasticity of demand and what does his demand curve look like (either verbally explain the shape of the demand curve or give an equation for the demand curve)?
illustrate the effects of a reeal wage existing in the labour market if it is perfectly competitive
Q. Explain about Citrinin fungi? Penicillin citrinum, P.viridicatum and some other fungi produce this mycotoxin. It has been recovered from polished rice, moldy bread, country
DIFFICULTIES IN MEASURING THE NATIONAL INCOME There are some conceptual and statistical problems in measuring national product. Some items are excluded from the national incom
In 2010, Wonderlanders consumed 15 million liters of rum at an average price of $5 per liter. The Wonderland department of commerce has estimated that the price elasticity of the d
A profit maximizing firm has a production function such that: Y=K2L2 a) If P=10,rk=2,andWL=3 , what would be its optimum be? How can you show that it is a maximum? b) How
Q. What do you mean by yield curve? Yield curve is a graph of interest rates of different maturity (recalculated to yearly rates) at a specific point in time. It's common for t
1. Consider the following game: a) Does either player have a dominant strategy? b) Does either player have a (pure) prudent strategy? c) Does the game have a saddlepo
constructing a opportunity set and budget line for $15 lottery ticket and intending on buying a candy bar for $0.75 and peanut bag for $1.50
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.
define business cycle
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