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Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range?
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
How can the income and substitution effects of a price change help explain this? Review the substitution effect and income effect dynamics.
Do you think that the problems the DVC's face require a government-directed or a private-sector directed development process?
Is there any justification for that country to levy a "brain drain" tax on them? Do you see any problems with this idea?
In the last decade or so, there has been a dramatic expansion of small retail convenience stores. What explains the success of the convenience stores?
How can the income and substitution effects of a price change help explain this? Review price elasticity of demand and supply.
If the unit price of medicine is $15, what quantity will Jose demand if he gets sick? From Jose's perspective, what is his expected loss from sickness?
Explain what happens to Lulu's marginal rate of substitution as you move down her indifference curve? Explain what marginal rate of substitution means.
Draw the graph of her indifference curve and budget constraint showing the utility maximizing point. How would consumption change if price of coffee fell to $2?
Using graphs, show, and verbally explain, how this change in demand in the market for cars affects the labor market for workers
The participation rate grows to 62%. Determine the unemployment rate for Country W.
The current unemployment rate in Caratas is 7%. The country is moving out of a recession and into economic recovery.
Find all mixed strategy Nash equilibra of this strategic game when k = 1, assuming that the expected payoffs represent utilities.
Identify a firm for each of these market structures and explain why each firm belongs in the market structure identified.
Describe opportunity cost, and then explain whether or not it's an out-of-pocket cost. Set forth the law of diminishing marginal utility.
To study this further, the manager selected a sample of 30 clients, which is shown as follows: Determine the sampling error of this sample.
Derive k*, y*, and c* as functions of the model parameters and determine their values when the saving rate s = 15%.
Will doing what the Bank of Canada is currently doing work? Why or why not? What work will the Finance Minister is doing?
Explain each of the tools that exist in expansionary monetary policy and contractionary monetary policy.
Central Bank of Pandesian (CBP) used the required reserve ratio to adjust their money supply to first fight against unemployment and then against inflation.
To that end, CBP cuts the required reserve ratio to 5%. How does my $1,000 deposit change the Pandesian money supply? Explain by using the T-account.
Discuss what the article you chose was and why it made macroeconomics a reality? Why or how is it relevant to you personally?
How has productivity fluctuated in Canada since 1973? How do changes in income affect consumption and saving? Define aggregate demand.