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a. Draw the budget line.
b. What happens to the original budget line if the budget falls by 25%?
c. What happens to the original budget line if the price of X doubles?
d. What happens to the original budget line if the price of Y falls to $4?
a. Determine cross price elasticity
b. Based on the result, what kind of relation exists between the two goods?
a. Find the market equilibrium price and quantity?
b. What would be the state of the market if market price was fixed at Birr 10 per unit?
c. Calculate and interpret price elasticity of demand at the equilibrium point.
a. Who has the absolute advantage in coffee? Who has the absolute advantage in Soybeans. Explain.
b. Who has the comparative advantage in coffee? In Soybeans? Explain.
c. If the two countries specialize and trade with each other, who will import coffee? Explain.
d. Assume that the two countries trade and that the country importing coffee trades 2 ounces of soybeans for 1 ounce of coffee. Explain why both countries will benefit from this trade.
An economy has two main types of industry. One produces services and the other produces goods.
The service industries produce services for households and businesses with a total market value of $11,000. The goods industries produce goods for the use of both households and businesses with a total market value of $16,000. The service industries spend $1,700 on computers and paper and envelopes supplied by the goods industries. The goods industries spend $1,900 to buy financial, insurance, advertising, and custodial supplies from the service industries.
Find the final value of each industry and the nominal GDP of the economy. Please make sure your final answer(s) are accurate to the nearest whole number.
final value of goods. ?
nominal gdp. ?
final value of services ?
Why Human Resources Management(HRM) activities can be critical to enabling strategy with reference to Sasol and Woolworths examples
to implement several public projects (flood control, school security, etc.). The
interest rate will be 3% per year, payable at the end of each year. This $30
million debt will be retired by making principal payments of $5 million at
the end of each year. The Board of Supervisors is concerned that it will take
too long to pay off this debt. How many years will it take to retire this $30
million debt and its associated interest payments?
#333702 on Dec 2022