Let's say you cultivate oranges. Would you anticipate a more elastic or inelastic need for your orange?

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A: The unemployment rate of an economy is the percentage of the labour force that is unemployed. It is…

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A: Price times quantity gives the total revenue from a commodity.

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A: Circular flow of income describes the flow of income among the sectors. The sectors of the economy…

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A: Given, Two online retailers : BestDeal.com and CrazySavings.comThey sell the same brand TV :…

Q: Respond to the following questions in a minimum of 175 words: . Consider a situation that you might…

A: Probability is the mathematical term for the likelihood that something will occur. Probability plays…

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A: In a Cournot duopoly, firms take their actions simultaneously while in Stackelberg duopoly, one firm…

Q: In an economy, investment increased by 1,100 and as a result of it, income increased by 5,500. Had…

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A: Income elasticity represents the responsiveness of demand because of changes in income.

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A: Economic expansion creates job opportunities and hence increases demand for labour, which is the…

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Q: C6

A: In an economy, full-employment level is one when an economy is operated at its potential using the…

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A: Individual Elasticity: It alludes to the elastic property of unity. Price and demand change in the…

Q: What is progressive tax? Write its merits and demerits.

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Q: If a 12% rise in the price of grape juice increases the quantity of orange juice demanded by 8%,…

A: The elasticity of demand measures the quantitative relationship between the price and quantity…

Q: If a 10% price rise causes a 20% decrease in the amount demanded, the price elasticity of demand is…

A: Introduction Given Information   Price elasticity of demand= 5.0 % change in Price = 10% change in…

Q: MARKET HAS NO LINK BETWEEN BOTH PRODUCERS AND CONSUMERS. True False

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A: A firm incurs two types of costs:-Fixed costs and variable cost. In case of fixed costs like land,…

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A: An exchange rate is a rate at which one currency will be exchanged for another currency.

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A: In the United States, Fed makes monetary policy and influence the monetary system by making changes…

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A: Introduction   According to the amplifications of the nash equilibrium there will be the…

Q: With the help of a diagram, explain Inflationary Gap and Deflationary Gap.

A: Introduction: The difference between the real GDP level currently and the GDP that would exist if an…

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A: Free rider problem refers to the economic problem where it is difficult to exclude an individual…

Q: What precautions should be taken while estimating national income by income method? Or What…

A: The total income generated by a nation's economic activities over the course of a year is known as…

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A: Gross domestic product (GDP) growth is referred to as economic growth. It is a more limited phrase…

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Q: What are the concepts of microeconomic theory with respect to the supply and demand of the inputs…

A: Demand refers to the quantity that a consumer wishes to buy at a given price in a given period of…

Q: 2. A bank charges 11% discount on short term loans. Find the sum received by the borrower who…

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Q: The local baseball stadium's concession stands previously sold hot dogs for 80 cents apiece. At that…

A: When demand is price elastic, total revenue shifts in favour of a quantity change. When alternatives…

Q: Could you please also sort the following shocks into positive or negative aggregate supply or…

A: aggregate supply shows the total units produced in the economy whereas aggregate demand shows the…

Q: Consider the following production function, Q = KL where Q represents output, K represents units of…

A: Production function:  Q = KL Q = output K = units of capital L = units of labour Marginal…

Q: H6

A: We know that Aggregate demand - At a given time aggregate demand is total demand of an economy. It…

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A: A government-prepared budget is a document that includes a list of all anticipated revenue sources…

Q: in normal form.     Not cooperate Cooperate Not cooperate 20,20 50,0 Cooperate 0,50 40,40…

A: *Answer:  Given,     Not cooperate Cooperate Not cooperate 20,20 50,0…

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A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: ) A Roy Rogers (RR) is a beverage composed of 7 ounces of cola (C) and 1 ounce of grenadine (G)…

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Q: Explain the importance of Global integration and role of multilateral institutions. How these affect…

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Q: 7.Which flows represent taxes? a. C and D b. E and F c. A and B d. D and E

A: Introduction In the modern economy, money is used in the process of exchange. In the monetary…

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Q: What are the functions of central bank in developed economies?

A: A central bank is a national institution that offers banking and financial services to other…

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A: Please find the answer below.   COBB-DOUGLAS UTILITY FUNCTIONS: The Cobb-Douglas utility function…

Q: 4. At what rate of simple interest will the sum of money double itself in 6 years.

A: Simple interest is determined by multiplying the day to day interest rate by the principal, by the…