Market Equilibrium Process Katie Le ECO/561 August 31‚ 2014 Professor Kate Stowe Market Equilibration Process Equilibrium can be defined as a state where the demand and supply balance one another and that in result stable the prices. The current economic situation causes a state of disequilibrium in housing industry. Because of the economic condition‚ people are losing their jobs or they are not receiving enough pay so it becomes difficult for the people to purchase
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Answers of Managerial Economics Homework #2 Chapter 5~Chapter 9 1.Using figure 5.3 as a basis‚ construct a series of four figures to show the effect of an increase in the demand for tanker service on the market price when (a) demand is extremely inelastic‚ (b) demand is extremely elastic‚ (c) supply is extremely inelastic‚ and (d) supply is extremely elastic. Answer: [pic] [pic] [pic] [pic] 2.Industry researchers R.S. Platou predicted
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t No longer is the term ‘Corporate Social Responsibility’ a novel idea amongst businesses. A 2011 sustainability study by MIT showed that sustainability‚ in the US at least‚ now plays a permanent part in 70% of corporate agendas. Organisations such as Unilever haven’t simply been championing sustainable business as a form of corporate philanthropy. Since implementing their Sustainable Living Plan‚ they have increased growth and profits. Quite simply‚ doing good is good for business. How have Unilever
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MULTIPLE CHOICE (CHAPTER 4) 1. Using a sample of 100 consumers‚ a double-log regression model was used to estimate demand for gasoline. Standard errors of the coefficients appear in the parentheses below the coefficients. Ln Q = 2.45 -0.67 Ln P + . 45 Ln Y - .34 Ln Pcars (.20) (.10) (.25) Where Q is gallons demanded‚ P is price per gallon‚ Y is disposable income‚ and Pcars is a price index for cars. Based on this information‚ which is NOT correct
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1. 1.Economic fluctuations are irregular and unpredictable 2. Most macroeconomic quantities fluctuate together 3. As output falls‚ unemployment rises. 2. Most economists use the model of aggregate demand and aggregate supply to study fluctuations. 3. Classical economics relates to Classical Dichotomy which is the separation of variables into two groups. The two groups are real which correlate to quantities‚ relative prices and nominal which is measured in terms of money
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Two main vulnerabilities of the diamond industry: price of diamond linked to supply and value diamond linked to belief that they are rare and therefore special‚ and thus suitable token of sentiment. DeBeers exercised monopoly power by effectively controlling production and distribution of diamonds‚ thus controlling supply and ability to control pricing. When the market started to shift as other sources of diamonds were discovered‚ DeBeers still held an advantaged position as they had sole control
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首先，成為政務主任是我的夢想職業。經過十二年的免費教育及享受政府的福利，成為公務員是我回饋社會的最佳辦法，我亦視貢獻社會為抱負。 我對服務社會的熱誠由爸爸的工作開始。他是一個服務社會三十多年的警務人員，從孩提開始我已十分敬佩他打擊罪案及維持治安的工作。見證他對社會的貢獻，我希望從政策方面，改變社會。正正因為政策對社會民生有重大影響，我更期盼能用自己的力量令香港更美好。 透過此實習計劃，我希望體驗政務主任的工作，亦會嘗試探討各種社會現象及問題，例如貧富懸殊、房屋問題及政制改變。平衡不同持分者的利益，我希望提出可行的解決辦法。 在工作中，我期望自己能同時學習及付出。透過應用對時事的知識，我希望從政策制訂者的角度分析，明白他們面對的困難，同時協助政務官的工作。 To begin with‚ starting my career as an Administrative Officer has long been my aspired career path. I consider working in the government as a way of contributing
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Using the data and your own economic knowledge‚ assess the case for financing universities mainly through charging fees to their students. Charging of fees means that payments will be taken from students instead of receiving subsidies from the government. Education is a merit good as it produces positive externalities (i.e. a better educated workforce that can increase productivity of the society) and is under-consumed as a result. Alternatives to charging fees include government funding‚ gifting
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A production possibilities frontier (PPF) is a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. At which point is the country’s future growth rate likely to be the highest? Briefly explain why. Point W (top) because it is where the most resources are used to produce capital goods. What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy? The
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[Q#2020] If buyers’ value for bicycles increase‚ the demand for bicycles will ______.a. Increase [Q#2053] A supply shortage in the market for lettuce will _______ the equlibrium price of lettuce. a. Increase [Q#2057] At any moment the equilibrium price in the market for tablet computers will be determined by ________ . c. Buyers and the sellers of tablet computers [Q#2059] The equilibrium price is also known as c. the market-clearing price. [Q#4021] Along a demand curve with a constant slope
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