Suppose the own price elasticity of demand for good X is -0.5 and the price of good X increases by 10%. We would expect the quantity demanded of good X to : a. Increase by 20% b. Decrease by 20% c. Decrease by 5% d. Increase by 5%

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A:

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A: The formula for equilibrium real GDP is: Y = C + I + G + NX

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Q: Discount P1,650 for 4 months at 6% simple interest. What is the discount?

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