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Ccompute advertising elasticity of demand and describe its meaning.
Sketch a supply or demand curve shift for the following article...(make only one shift). To make matters worse, price of oil lost more than half its value in 2008. Global economic slowdown has underm
Show a supply or demand curve shift for the following article...(make only one shift).
Compute the income elasticity of demand using the general formula for elasticity?
Write down 2 kinds of businesses that their costs are mostly variable costs, and write 2 types of businesses that their costs are mostly fixed costs.
Deduce the expression for marginal utility of good 1, and for marginal utility of good 2.
Define what do you mean by monotonic transformation of some consumer's utility function: u(x1, x2).
Illustrate the effect of imposing this tax in a clearly labeled graph containing before and after budget lines.
Explain the opportunity cost of good 1 in terms of good 2.
Illustrate that optimal quantities of labor and capital satisfy L/K = (α/β) (PK/PL). Give an intuitive explanation for this result.
Determine the marginal cost of an additional watch? As profit maximizer, what price and output must the firm set?
What affect (if any) would this have on firm Z's profit maximizing subscription price and number of subscribers?
Determine firm-s profit maximizing price and quantity. What is its profit?
It could be argued that rational buyer must never experience negative marginal utility. Describe why?
Find out the level of consumer and producer surplus? Show your findings in a graph.
Choice is between ice cream at $1 a cone and Big Macs at $2 apiece. Based on MU/P columns for Big Macs and Ice Cream, determine the utility-maximizing combination.
For each of the below scenarios, mathematically define the modified budget constraint. Then for each case, graph the original and modified budget constraint on a single graph.
Would you expect indifference curve to be steeper or shallower at points which represent lot of reading and very little writing? Describe why?
Solve for equilibrium quantity and price, after tax has been imposed. (Hint: Remember in equilibrium, qd = qs. However, ps = pd - τ when a tax exists. Substitute for ps, then solve for equilibri
By using the Internet, library and/or other resources, research and in brief describe 2 to 3 methods presently being used to encourage the economic growth
Choose a South American country to research. Choose one of the given economic concerns to research: quantities of specific goods and services Gross Domestic Product (GDP) unemployment
There are four factors which affect the price elasticity of demand:
Calculate the price elasticity of demand for paint and show your computations.
Factors influencing variable costs, comprising productivity and others that change the supply of and demand for labor.
Prepare a list of on-line and text based resources you might use to collect historical economic data and also economic forecast data.