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Ganezh [65]
2 years ago
13

Uppose the demand curve for a product is given by

Business
1 answer:
Tatiana [17]2 years ago
5 0

Answer:

A. 0.2

B. 0.5, 0.25

Explanation:

Q = 10-2p+2

We take like terms

Q= 10+2-2p

= 12-2p

A. If p = 1 dollar

12-2(1)

Q = 10

Price elasticity would be change in quantity divided by the change in price = -2

-2 x p/q

= -2x1/10

= 0.2

Price elasticity of demand is 0.2

B. P = 2 dollars

Q= 10-2x2+2

= 10-4+2

= 8

Price elasticity

= -2x2/8

= 0.5

Cross elasticity

= 1x2/8

= 0.25

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If workers in one part of the labor market unionize, then all else equal, we would expect the wages of unionized workers to <u>rise</u>, and the wages of nonunionized workers to <u>fall</u>.

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Almost everything that happens in the economy affects the labor market. Changes in demand for goods and services, population size, and minimum wage rates can all have significant effects on the labor market. The economic change will probably have the greatest impact on the labor market as a whole.

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2 years ago
The marketing channels for services are usually Group of answer choices characterized by two to three intermediaries. complex an
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direct from provider to customer

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6 0
3 years ago
Present value computation kerry bales won the state lottery and was given four choices for receiving her winnings. receive $400,
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