If the price elasticity of demand for gasoline is 1, that means:

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A: GDP can be calculated using the following formula: GDP(Y) = Consumption(C) + Investment(I) +…

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A: "Consumer price index represented as CPI depicts the overall deviation in prices over time with…

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A: The 190 nations that make up the International Monetary Fund (IMF) strive for sustainable…

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A: Sustainable development refers to the development of a nation without harming the environment and…

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A: Given, Down payment (DP) = P15,000 Remaining payment (P)- P1 500 every 3 months for the balance for…

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A: A competitive advantage is when a business can create goods or services more quickly,…

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A: The present worth formula is PV=FV/(1+i)n , where you divide the FV by a factor of 1 + i for every…

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A: Introduction Primarily work has started on H-O theory in 1919 by Hecksher and then Ohlin added it in…

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A: Given  Total cost TC(q)=2q2-12000q+30,000,000              ...... (1) “Since you have posted a…

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A: Introduction Production in Pareto efficient when it is not possible to reallocate the resources to…

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Q: Discuss it in your own understanding and then give example each of the following:   Tangible and…

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A: FACTORS THAT SHIFT SUPPLY CURVE Favourable natural conditions Fall or rise in input cost (cost of…

Q: A B с D 50,50 150,100 250,150 Firm 2 E 100,150 200,200 300,250 F 150,250 250,300 260,350 ays…

A: The dominant strategy is the best course of action irrespective of other players strategies.

Q: should

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Q: 4. Explain each key ingredients.  (ii) There should be willingness to buy the product.

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

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A: Ex-post is simply defined as 'after the event ' which can be associated with any event in hindsight…

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A: Utility function shows the functional relationship between the consumption goods and utility.

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A: Perfect competition is a type of market structure.

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A: GDP is production of the goods and services during an accounting year. Real GDP makes adjustments…

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Q: Question 5 Which of the statements below would NOT cause a shift in aggregate supply from AS, to AS,…

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Q: "Using the example of driving a car, explain moral hazard"

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Q: State whether the following statements are true or false: a. When constant marginal cost > 0,…

A: The situation is depicted by zero marginal cost, in which an additional unit may be provided without…

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A: Demand that is highly and favourably responsive to a change in income is said to be "income…

Q: 8. Compute the mixed strategy Nash equilibrium of the game below: Bungle Zippy Left Right Up 2,-1 I…

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A: We know that private goods are excludable and rival while public goods are non-excludable and…

Q: If the price of jet fuel rises, the supply of jet fuel decreases. O supply of jet fuel increases. O…

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Q: hich one of the following is not part of the necessary conditions for efficient markets? a.…

A: Efficient market  refers to the market which  is allocatively and productively efficient. It does…

Q: 1. Suppose that you own a used car dealership. You want to sell a 2005 Honda Civic LX. You know that…

A: As per student request I have done answering D-F. Please see in below -

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A: Introduction The expenditure incurred on these inputs is called cost of production. Opportunity cost…

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A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Assume that a pound of blueberries costs $2. Usually, James purchase 30 pounds of blueberries in one…

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Q: linear demand curve shown below to answer the following questions.   a.         The point…

A: Elasticity of demand is a theory in economics that is utilized to explain the relationship between…