Economics Answers

When both the price of a substitute and price of the complement of commodity-x rise, then what

would be the impact on demand for x-commodity explain your answer.

Given the demand function Qx = 8000-1000Px, determine the elasticity of demand at a single 

point where price of Rs. 6 and the corresponding quantity of 2000 units. (Diagram is required)

what are some of the most important ways in which developing countries differ in their social, political, and economics structures

what are the most important ways in which developing countries may differ in their economic, social and political structures

elabrote  the term Elasticity of Supply

Elaborate the term Elasticity of Supply and explain any three factors that determines elasticity of supply

Assume that a consumer consumes two commodities X and Y and makes five combinations for the two commodities: 

Combination Units of X Units of Y

A 25 3

B 20 5

C 16 10

D 13 18

E 11 28

Calculate Marginal rate of Substitution and explain the answer

Nature and effects that the war had on economic development discuss using one of the theories of economic development discussed in class and advice on how should policy makers respond to these shocks?

What is the effect of an increase in investment on employment and and output in the economy, interpretation with the keynesian diagram?

Plot prices on y axis and quantity on x axis an determine what is the slope (positive or negative)

price. 1. 2. 3. 4. 5

quantity. 12. 28. 42 52. 60