SHORT ANSWER PROBLEMS 1. Consider the following demand and supply functions: Qd = 1‚600 – 125P Qs = 440 + 165P (a) Calculate the equilibrium price and quantity that will prevail under a completely free market. (b) Calculate the price elasticity of supply and demand at the equilibrium values. 2. Suppose the demand curve for a product is given by Q = 10 – 2P + Ps ‚ where P is the price of the product and Ps is the price of substitute good. The price of the substitute good is $2
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Continuity/Change Over Time During the 1450’s to 1750’s the Americas were evolving at a constant rate. The slave trade and the use trade such as the triangular trade were very common during this time-period due to the rise in plantations‚ causing a diverse region in South America. In addition‚ forced labor was an important constant throughout the region and was controlled by Spanish and the Inca’s which also allowed for a mixture of culture and ethnicities. South America throughout the time-period
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Aristotle on Causality 1. Introduction Aristotle was not the first person to engage in a causal investigation of the world around us. From the very beginning‚ and independently of Aristotle‚ the investigation of the natural world consisted in the search for the relevant causes of a variety of natural phenomena. From the Phaedo‚ for example‚ we learn that the so-called “inquiry into nature” consisted in a search for “the causes of each thing; why each thing comes into existence‚ why it goes
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Victoria’s Secret has 1‚040 stores globally with more than 6 million square feet of retail space. Net sales are more than $5 billion and average sales per selling square foot are $581. However‚ when the word globally is used‚ it actually means the United States. International sales are mostly mail order or at a handful of airport stores. Victoria’s Secret could position their international presence better and is something they should work on. Victoria’s Secret still might be a secret to a lot
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his instrument choice on each of his records to showcase his musical diversity (Aaberg). One of the greatest jazz musicians of all time was Louis Armstrong! His talented trumpet and vocal skills helped pave the way for many other solo jazz musicians who wanted to follow in his footsteps
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English Speech “Those who follow the crowd usually get lost in it” –Rick Warren. The struggle of individuals to belong and find their role in society has a significant impact upon their everyday lives. One’s cultural heritage and ideologies serve as a powerful obstacle preventing individuals from belonging and conforming to society. 10 Mary Street‚ Postcards and Memoirs of a Geisha collectively represent the struggle to belong as an evasive and difficult process that results in a loss of identity
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A) An ulcer starts by eroding the mucosa of the GI tract wall. What functions of digestion and/or reabsorption might be lost if this layer is no longer functional? What functions will be compromised if the ulcer eats through the submucosa and then the muscularis? Some of the ingested and secreted may not be absorbed correctly and may seep lumen if the mucosa layer is no longer functional. The functions that may be compromised if the ulcer eats through the submucosa and the muscularis would be the
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process. Further‚ Google adopted ‘modified Dutch auction’; it reserved right to set final sale price‚ share distribution‚ and other auction terms based on ultimate result of auction. This modification enabled Google to avoid unusual overpricing problem. Role for investment banks Google markedly reduce underwriters’ role by employing unusual a total of 31 underwriters including two lead underwriters‚ Morgan Stanley and Credit Suisse‚ to distribute its shares. Google did so mainly because it was
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electricity‚ generated a lot of heat‚ which was often the cause of malfunctions. First generation computers relied on machine language‚ the lowest-level programming language understood by computers‚ to perform operations‚ and they could only solve one problem at a time. Input was based on punched cards and paper tape‚ and output was displayed on teletype printers. The UNIVAC is the most famous first generation computer. Manufactured by Sperry-Rand Corporation‚ the first UNIVAC was delivered to the U.S
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Disease as Imagery in Macbeth plays a predominant role in Shakespeare’s play Macbeth. This stylistic device appears in several different forms throughout the play. Imagery of animals‚ nature‚ and darkness help create a foreboding atmosphere. In particular‚ the imagery of disease acts as a metaphor for evil and corruption. The idea of corruption spreading in Macbeth like a disease first appears in Act 1‚ scene 3‚ in one of Macbeth’s first soliloquies. He states that the thought of murdering Duncan
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