Suppose that when the price of milo falls by 10 percent, the quantity of bournvita demanded decreases by 5 percent.
0.5
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In the figure above, using the midpoint method, what is the price elasticity of demand between points A and B?
A) 0.05 B) 0.13 C) 0.43 D) 1.00 E) 2.33
As long as wages and prices are flexible, an anticipated change in the money supply will lead to an increase in
A) the unemployment rate. B) industrial production. C) nominal income. D) real wages.
Cooling systems Carl is the lead engineer on a smart HVAC cooling system that works with minimal energy and is voice activated. Given the revolutionary nature of the system, it took many failed tries to create a system that actually worked, a cost of
$30,000 . Now each unit sells for $6500 and it costs $5000 in raw materials and labor to produce. What costs should Carl take into consideration when deciding to service the order for an additional unit?
If a firm is not forced to take account of a negative externality it creates, it will produce the quantity at which
a. the marginal cost of production equals the marginal private benefit b. the marginal cost of production equals the marginal social benefit c. the marginal social cost of production the equals marginal private benefit d. the marginal social cost of production equals the marginal social benefit e. price equals marginal social benefit