A firm increases the price of a good from £4 to £5. As a result the quantity demanded falls from 200 units to 150 units. Calculate the price elasticity of demand for that good. Enter the magnitude of the PED - the negative sign is already provided. PED =

Q: The price of oil in 2005 was $67 per barrel. “This price is still lower than the price of oil in 198...

A: As per the question, in year "2005 price of oil per barrel" (F)= $67 per barrel. Let price of oil pe...

Q: What is an emerging industry? What is the primary opportunity available to entrepreneurial firms in ...

A: Emerging industry A group of enterprises in an area of business developed around a novel product or ...

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A: Price elasticity of demand: - Price elasticity of demand measures the responsiveness of change in de...

Q: For the demand schedule p = 40 – 0.5g find the value of MR when q = 15. %3D

A: Here, dand equation is given as: p=40-0.5q Using the demand equation, one can identify the total rev...

Q: Using the data you entered in the previous table, calculate the tax burden that falls on buyers and ...

A: We can see these values directly from the graph and fill the table to be:   QUANTITY PRICE BUYERS...

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A: Important Considerations- There are various ways in which taxes are apportioned among purchasers and...

Q: a) Define elasticity of demand. What does it measure in general? What do the price elasticity of dem...

A: ELASTICITY of demand refers to the responsiveness in demand due to change in demand determinants.  A...

Q: All of the following statements about government-supported research are true, except: Select the cor...

A: Government-supported research refers to the funding of the government to conduct research. This is d...

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A: Answer: Transfer payment: transfer payment with respect to the balance of payment account refers to ...

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A: The person who tends to start a business and is also willing to risk loss for making more money is k...

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A: Here, two information about international agreement among the nations, especially by the Asian natio...

Q: The table below shows the share of income going to each quintile of the income distribution for a na...

A: The graphical depiction of the income distribution is known as the Lorenz curve. The cumulative perc...

Q: Derive an expression for MC if TC = 49 – 20q + 60q + 40. %3D

A: TC = 4q3 - 20q2 + 60q + 40

Q: a) Assume we are now in mid- or late February 2022. After conducting your own analysis, you have mad...

A: Answer-

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A: The vaccines that tend to provide protection against infection by viruses of influenza are known as ...

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A: Competition between firms generally occurs when the market consisted of multiple firms, The perfectl...

Q: Use the graph input tool to help you answer the following questions. You will not be graded on any c...

A: Here, the given graph provides information about the demand and supply of labor in the fast-food ind...

Q: Explain the determinants of a nation's foreign exchange rate.

A: A nation's foreign exchange rate is between two currencies. Basically, "trade rates are how much one...

Q: Now let’s consider a more complicated game. In Game 1 below, the US and Iran are bargaining over the...

A: Given game X value will be more than 0 and less than 1 0<X<1  

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A: Marginal cost is the additional cost incurred in order to produce an additional unit of output thus ...

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A: A) Returns paid on U.S. investments in France When the return is paid on U.S investment in France th...

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A: Consider option 1: The better the unemployment benefits, the lower the natural rate of unemployment ...

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A: The area of distribution, production, and consumption of goods and services by different agents as a...

Q: !

A: Given: 1] The short-run production function of a firm is given as q = f ( L , K ) The cost constrain...

Q: How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the ...

A: Given information = P18000 Time = 1 year and 6 months or 18 months. Interest rate = 9%

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A: ANSWER   Electricity generating and transmission equipment falls in the asset class of 00.4 specifyi...

Q: 3. Garibaldi Provincial Park is located between Squamish and Whistler. A travel cost survey was comp...

A: Consumer surplus = 0.5 * (Maximum willingness to pay - Actual price paid) * Quantity

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A: (i) As we know that, the sum of all the probabilities in a probability distribution is always 1 so, ...

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A: In order to win an election, candidates must garner half the votes. In election politics, the "media...

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A: Learner's index is used to measure monopoly power. It shows how greater is price from its marginal c...

Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 18  - 2E....

A:

Q: Which of the following is an indirect tax? 1. Capital Gains Tax 2. Excise Duty 3. Wealth Tax 4. Esta...

A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers, ...

Q: The following graph shows the supply curve for a group of students looking to sell used smartphones....

A: Answer: According to the above figure, the purple area shows the total producer surplus when the ma...

Q: What do you understand by the concepts of intra and inter temporal choice models in Managerial Econo...

A:  We know that.,Intèrtemporal  a choices refers  to decisions, such as spending habits, thàt are made...

Q: In the Philippines, gasoline price depends on supply and demand, as the price increases consumers ar...

A: Purchasing gasoline has increased from P2.90 per gallon to P2.98 per gallon   Therefore, requirement...

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A: The first stage is increasing returns, the second stage is diminishing returns and the third stage i...

Q: Make a summary of this article. David, H., & Dorn, D. (2013). The growth of low-skill service jobs a...

A: Technological advancements have generated more opportunities to use machines without more using huma...

Q: Greg has the following utility function: u = x x51. He has an income of $75.00, and he faces these p...

A: Given  Greg utility function u=x10.49x20.51             .... (1) The equation of B=budget constraint...

Q: 51. It is the amount of property would sell if disposed off as a junk. market value salvage value sc...

A: We are authorized to answer one question at a time, since you have not mentioned which question you ...

Q: The following graph input tool shows the dally demand for hotel rooms at the Peacock Hotel and Casin...

A: Hi! thanks for the questions but as per the guidelines, we can answer up to 3 subparts at one time. ...

Q: Question 19 What was the mito? O A labor tax on indigenous peoples in the Andes O A tax on silver pr...

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...

Q: Describe the outlook of the world’s economy after the COVID-19 pandemic.

A: Global economy is defined as the economy of all the countries and humans of the world. It refers to ...

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A: The term scarcity refers to the fixed wants of an individual due to the availability of limited mone...

Q: Suppose that, in a competitive market without government regulations, the equilibrium price of donut...

A: Price control is of two types, i.e., price ceiling and price floor. A price ceiling is a maximum pri...

Q: The ECU as a basket of currencies. What is the percentage/weight of the ECU's total value accounted ...

A: From the chart it is 5.4%. Yes, Since the value of each currency in ECU depends on its exchange rate...

Q: Lawnlech sells its laser hedge trimmer at a price of $275, and estimates price elasticity of demand ...

A: Elasticity of Demand measures the percentage change in qunatity demanded due to percentage change in...

Q: Sales projections -10 million Allocated to advertisement-2% This approach is... Affordable budgeting...

A: Advertising budget is the portion of a total marketing budget that a company allocates for advertisi...

Q: QUESTION 32 Positive economic analysis a. involves judgments on how resources should be used in an e...

A: The answer is - c. involves how resources are actually used in an economy.

Q: The following table shows the composition of GDP in 2015 for a hypothetical country. Complete the ta...

A: GDP =? Consumption = 11486 Investment = 2431 Non Residential = 1889 Residential = ? Government Spend...

Q: Why socio-economic issues the people’s top concern in an economy are?

A: socio-economic issues The socio-economic issues are the problems the economy is facing. They have ne...