city‚ (2) they prefer to live with people of their own ethnic group‚ or (3) there is discrimination against them in other areas of the city. Rents paid are a very high percent of peoples’ incomes. (a) Would the demand for apartments in this area be relatively inelastic or relatively elastic? State why. (b) Would the supply of apartments in this area be relatively inelastic or relatively elastic? State why. 1 (c) Draw the demand and supply curves as you have described them‚ showing the initial equilibrium
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Ecotourism is defined as "Responsible travel to natural areas that conserves the environment and improves the well-being of local people. The basic principles and good practices of ecotourism are slowly beginning to spread. Even major international hotel chains‚ tour operators and attraction providers are starting to adopt environmentally responsible practices‚ such as recycling‚ use of renewable energy sources‚ water-conservation schemes and safe waste disposal Ecotourism theoretically means travel
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Overview For Students in ECO-201 1. Please name and save your paper in this way: Your Class Your Name Your SLUID For example…. ECO-201_John_Smith_0123456 2. Required Heading Format Paper Title: Your Full Name: SLUID: Your Class: Location: Date: On Campus‚ at a Center‚ Distance Learning (DL)‚ or the Center for Online Learning (COL) Essay Question: Individuals‚ firms‚ governments‚ and countries are faced with choices because all resources are scarce. A production poss
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How could the model be altered to include these processes? Answer = Transpiration‚ surface run-off‚ infiltration‚ and percolation. With or by adding sand and possibly plants to the assignment would increase our awareness of the other processes. 3. How would the “weather” be affected if the water was at a decreased temperature? What about at an increased temperature? Answer = At an increased temperature there would be more cloud as our text states warm air can hold more water vapor than cool
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Fundamentals of Macroeconomics: Understanding GDP Ryan Clement June 18‚ 2012 ECO/372 Mr. Daniel Puente Understanding Gross Domestic Product Economists and world political leaders utilize a method of keeping track of their final goods‚ products and services done within a year called the Gross Domestic Product. It also defines the economic heartbeat of a country by the ebb and flow of how the country as a whole is producing goods products and services including imports and exports. The
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of Diminishing Marginal Utility’ A law of economics stating that as a person increases consumption of a product - while keeping consumption of other products constant - there is a decline in the marginal utility that person derives from consuming each additional unit of that product. EXPLANATION This is the premise on which buffet-style restaurants operate. They entice you with "all you can eat‚" all the while knowing each additional plate of food provides less utility than the one before. And
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x3 – 2x2y + 7xy2 – 8y3 (this has 4 terms) * The degree of a term is the sum of the exponents of the variables in the term. Example: The degree of x2y3 is 2 + 3 = 5. * The degree of a polynomial is equal to the degree of the term with the highest degree. Example: 8x5y2 + 2x3y6; The degree of 8x5y2 is 5+2 = 7. The degree of 2x3y6is 3+6 = 9. So the degree of the polynomial is 9. * The degree of a constant is zero. Example: The constant 5 has no variable part. This term could be written as
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In economics‚ utility is a measure of personal satisfaction or level of meeting a need that a good or service meets. For example the initial cup of coffee in the morning meets a large need and provides a large amount of satisfaction (utility). Another example is go under water and hold your breath‚ keep holding it until you think you will pass out. Then come up out of the water‚ that first breath is wonderful -- tremendous utility. That is utility - the meeting of a need or being satisfied. Now
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Demand Estimation Seydou Diallo Strayer University ECO 550: Managerial Economics Dr. Fereidoon Shahrokh November 4‚ 2014 Background I work for Snack-Eeze. We are the leading brand of low-calorie‚ frozen microwavable food. We estimate the following demand equation for our product using the data from 26 supermarkets around the country for the month of April. QD = -2‚000 - 100P + 15A + 25PX + 10I (5‚234) (2.29) (525) (1.75) (1.5) R2 = 0.85 n = 120
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Money only. B. Goods and services. C. All financial assets. D. All assets with a money price. 3. In a market economy‚ every real transaction has a corresponding: A. financial transaction. B. financial liability. C. real liability. D. real asset 4. If the financial sector causes more to flow into spending than is saved‚ most likely: A. the supply of real assets will exceed the demand for real assets. B. there will be too many real assets produced. C. the economy will experience inflation
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