the market‚ but as the housing crisis ravaged Arizona‚ they were told they’d be lucky to get $200‚000 for it. They were carrying a loan of $260‚000 on their original home alone‚ meaning they were well ’underwater‚’ owing much more than it was worth. Combined with the mortgage on the new house‚ their housing payments had become an "anchor around our necks‚" she says‚ threatening to gobble up all their retirement savings and leave them with nothing. The couple made a difficult call: They would do
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(i) What is meant by ’cross-price elasticity of demand’? It is a measure of the responsiveness of demand for a good to a change in the price of another good. This good can either be a substitute good or complementary good. (ii) Comment on the cross-price elasticity of demand between platinum and gold. When the price of platinum rises demand for gold rises. Because gold can be a substitute for platinum people will want to buy gold more when the price of platinum increases. (b)
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What can we say about the price elasticity of demand for nicotine products (such as cigarettes‚ pipes‚ tobacco) in the group of nicotine addicted users‚ versus the group of "social smokers"? Price elasticity of demand is defined as the percentage change in quantity demanded divided by the percentage change in price. (Douglas‚ E.‚ (2012) sec. 4.2) The price elasticity of demand is the same for addicted users and social smokers. Smoking is an expensive habit. In Mississippi where I live tax on a
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What Would Happen If Half Of The Canadians Died? By Steffi Bael Have you ever wondered what would happen if half of the Canadians died? Well in the next few paragraphs I will be explaining what would happen. Hypothetically speaking‚ if half of the population in whole Canada vanished‚ definitely a severe suffering of economy would happen. We are all independent on our resources for living‚ natural and especially the human
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000 item in the first month. In its first week of availability in the U.S market the IPhone 5s was about 3.4 times more popular than the iPhone 5c (which either replicates or improves upon the features in its predecessor of the iPhone 5‚ but there are a few noticeable differences). The iPhone 5s has been outselling the iPhone 5c by more than a two-to-one margin‚ adding the iPhone 5s accounted for 64 % of new iPhone market sales. There was a big satisfaction with the elasticity that enabled them
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Introduction For over twenty-one years‚ fuel price in Malaysia has been fluctuating ever since. Back then‚ the cost of a litre of petrol was only RM0.89. The history of fuel price increment started since the year 1990 when petrol price increased to RM1.10. Today‚ the price of a litre of RON97 is retailed at RM2.40 while RON95 at RM1.90. Malaysia government is subsidizing fuel pump at around 40 sen per litre and had already spent up to RM56 billion by giving gasoline‚ diesel and gas subsidies each
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OPINION EDITORIAL 1ST DRAFT YOUR FREEDOM‚ YOUR RIGHTS AND YOUR GUNS On December 14th‚ 2012; 20 year old Adam Lanza‚ entered Sandy Hook Elementary School to carry out the mass murder of innocent staff and children of the school. This shooting as well as others‚ such as the "Batman" shooting in Colorado‚ have sparked the emotions of almost everyone in our local communities. Members of the media as well as government have been left asking how did this happen in our schools? Some have proposed
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TOPIC: ADMINISTERED PRICES AND OPEN MARKET PRICES: ANALYSE WITH THE HELP OF CONSUMER BEHAVIOUR. SUBMITTED TO: MR.MANDEEP SINGH SUBMITTED BY: SABA MASOD ROLL NO: B43 Sec :-sm1001 Index 1.Introduction 2. Review of literature 3. Administered price and consumer behaviour. 4. Open market price and consumer behaviour.
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English Do the following questions in your writing skills file -: 1. You are Rohit/Roopali. As President of the Students’ Council of St. Francis Sr. Secondary School‚ Bangalore‚ you have invited a visiting Russian Ballet troupe to give a performance in your school on the occasion of its Golden Jubilee celebrations. Write a notice in about 50 words informing the students about this event. 2. You are the Director‚ Physical Education of your school. Your school is playing against CPM School
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ECONOMIC DECISIONS How People Make Economic Decisions Misty D. Johnson University of Phoenix How People Make Economic Decisions There are four principles of individual decision-making‚ individuals facing trade-offs‚ analyzing what individuals give up to get‚ analyzing marginal costs and benefits‚ and reviewing incentives. Furthermore‚ many individuals could see how these principles affect the economy as a whole. Making decisions in the economic world is something that numerous
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