Economics Answers

2. Discuss the difference between the assets and liabilities of central Bank

Suppose that the price of President’s Choice macaroni and cheese decreased from $10 to $8 per case, and at the same time, the quantity of Kraft macaroni and cheese sold dropped from 192 to 128 cases.
a) What is the cross-elasticity of demand between the two products? Round your answer to 2 decimal places.
b) What is the relationship between the two products?

Suppose that the price of President’s Choice macaroni and cheese decreased from $10 to $8 per case, and at the same time, the quantity of Kraft macaroni and cheese sold dropped from 192 to 128 cases.



a) What is the cross-elasticity of demand between the two products?

What will be shape of the price consumption curve if X and Y are substitute goods. What can you about the own and cross price elasticities of demand, Explain using graph

How would you decompose the total effect of a reduction in the price of an inferior good into the income and substitution effect components? What will happen if the income effect is too large?

The general manager has asked you to provide a series of questions on key issues that could help guide their decision-making on purchasing an accounting information system.

Prepare a list of 20 questions that the general manager could use..

Refer to the figure below. Suppose that the cost of cheese falls, so that the marginal cost of producing pizza decreases.



Will the MC curve shift up or down?



Will the optimal amount of pizza increase or decrease?

Potatoes cost Janice $1.00 per kilogram, and she has $6.00 that she could possibly spend on potatoes or other items. If she feels that the first kilogram of potatoes is worth $1.50, the second kilogram is worth $1.14, the third kilogram is worth $1.05, and all subsequent kilograms are worth $0.30, how many kilograms of potatoes will she purchase? What if she only had $3.00 to spend?

Pham can work as many or as few hours as she wants at the college bookstore for $11 per hour. But due to her hectic schedule, she has just 16 hours per week that she can spend working at either the bookstore or at other potential jobs. One potential job, at a café, will pay her $12 per hour for up to 6 hours per week. She has another job offer at a garage that will pay her $10 an hour for up to 5 hours per week. And she has a potential job at a daycare center that will pay her $8.50 per hour for as many hours as she can work. If her goal is to maximize the amount of money she can make each week, how many hours will she work at the bookstore?

Why is it perceived as being anti-union and pro-business?