GASOLINE According to the law of demand‚ when the price of a good and the quantity demanded have an inverse relationship. When the price of a good increases‚ the quantity demanded decreases. There are various factors affecting the demand for gasoline. These include: 1. The availability and prices of substitutes and complements: A good is referred to as a substitute for another good‚ when it can be used as a replacement for the good. When the price of one good goes up‚ the demand for the substitute
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in the price level‚ measures how much more expensive a set of goods and services has become over a certain period‚ usually a year. Consumers believe that low stable and predictable inflation is best for economy‚ too high and too low are not good. Measuring Inflation: To measure the average consumers cost of living‚ government agencies conduct household surveys to identify a basket of commonly purchase items and then track the cost of purchasing this basket over time. Consumer Price Index:
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American Finance Association Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk Author(s): William F. Sharpe Source: The Journal of Finance‚ Vol. 19‚ No. 3 (Sep.‚ 1964)‚ pp. 425-442 Published by: Blackwell Publishing for the American Finance Association Stable URL: http://www.jstor.org/stable/2977928 . Accessed: 23/08/2011 00:15 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms
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Oil and Gas PricesOil and Gas 2There are many issues that cause the cost of oil and gas to increase. The main contributing issue to the increasing cost of oil and gas is supply and demand‚ when demand is greater than supply‚ the price of oil and gas will increase. The factors that affect supply include increased demand‚ problems with refineries and pipelines‚ and disruption to supply or threat of disruption to supply.With the increased demand for oil in the United States and other countries such
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PT1420 - Unit 4 Homework and Lab Assignment Unit 4 Assignment 1: Homework (from Chapter 3) True and False (bold your answer) 1.) Modules make it easier for programmers to work in teams True 2.) Calling a module and defining a module mean the same thing. True 3.) A statement on one module can access a local variable in another module. False 4.) Programming languages typically require that arguments be of the same data type as the parameters that they are passed to.
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Price discrimination in practice First and third degree discrimination in the train tariffs‚ etc. Price discrimination basically involves charging a different price to different groups of people for the same good. It needs some conditions. First of all‚ the firm must operate in an imperfect competition‚ it must be a price maker with a negative sloping demand curve. Second‚ the firm must be able to separate markets and prevent black market. Third‚ there would exist different consumer groups who
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else which is increased tension and worry that is caused by the uncontrolled price increase of the daily essentials. Each year before the month of ramadan‚ the prices of the daily essentials increase twise or even thrice as much. Every year the government tries his best to control the price hike of the daily essentials but fails eventually. But this year‚ the government has taken some unprecedented steps to control the price hike. It is quite an admirable fact that the government has addressed this
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In the book The Bride Price by Buchi Emecheta‚ the Character Chike Ofulue faces the stereotype being a descendant of a slave from Africa. He battles against this stereotype by becoming educated‚ two not listening to what other people say and last he has face culture issues. Chike battle against all of these obstacles by battling them trying to succeed in life. Chike battles against the stereotype of being a descendant from a slave from Africa is by becoming educated. He became educated when missionaries
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study: The effect of price ceiling and black market in gasoline market. Gasoline market is in equilibrium at a price of $3 per gallon and a quantity of 45 million gallon per month in the United States. Then a war in the Middle East disrupts imports of oil into the United States‚ shifting the supply curve for gasoline from S1 to S2. The price of gasoline begins to rise and consumer protest. The federal government responds by setting a price ceiling of $3 per gallon. A) The effect of imposing
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