Higher Colleges of Technology ADMC Campus EMBA 610: Managerial Economics MID - TERM EXAM Due Date: Friday September 28‚ 2012 INSTRUCTOR: Dr. ALEX PANANIS email: alexandros.pananis@hct.ac.ae tel: 050 503 1730 hct-emba 610 Q&As to midterm exam – akp sept-oct 2012 Page 1 EXPLANATION OF EXAMINATION AND GRADING You should be prepared to answer the variety of the questions relying on course materials‚ lectures‚ personal experiences‚ additional information about the content etc. to
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A factor to determine the demand elasticity is ease to find the substitution. As for this case there is only little substitution for the gasoline in the short run. Since there is less substitution for gasoline hence it would be considered is inelastic elasticity in short run As for the long run‚ when the price of gasoline increase the demand of elasticity
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Quiz 1 1. An increase in the imports of clothing into the U.S from India wills benefits the____________ & hurt the___________. A) U.S. clothing producers; Indian clothing producers B) Indian consumers; Indian clothing producers C) U.S consumers; Indian clothing producers D) U.S consumers; U.S clothing produces 2. Suppose Country A‚ a labor-abundant country‚ produces only wheat & cloth. The following equations illustrate the prices & costs of wheat and cloth in
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A PROJECT REPORT ON DEMAND‚ SUPPLY & ELASTICITY OF COCA – COLA SUBMITTED BY GROUP -9 UNDER THE GUIDANCE OF DR RL CHAWLA INDEX INTRODUCTION DEMAND ANLYSIS DETERMINANTS OF DEMAND SHIFT IN DEMAND CURVE SUPPLY ANALYSIS DETERMINANTS OF SUPPLY SHIFT IN SUPPLY CURVE ELASTICITY ANALYSIS DETERMINANTS OF ELASTICITY PRICE ELASTICITY INCOME ELASTICITY CROSS PRICE ELASTICITY CONCLUSION OBJECTIVE To analyse the demand of coca cola. To analyse the
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fell temporarily. Another factor which led to this decrease in price was the glut of stock. According to the law of demand‚ as price increases‚ quantity demanded decreases while all other factors remain unchanged. Demand for aluminium is price inelastic‚ as it is a primary commodity and countless industries are dependent on it for their raw materials. Thus‚ a large increase in price from P0 to P1 leads to a less than proportionate decrease in quantity demanded from Q0 to Q1. This leads to
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To raise more revenue‚ Nobody State University increases its tuition so‚ this would not increase the revenue but it would decrease the revenue. If one increase then the other would definitely decrease. No it would definitely not result into more revenue to have more revenue Nobody State University would have to decline some enrollments in order to increase the revenue. Most likely Nobody States University will not decline enrollment so the cost of tuition would definitely be increased. Under
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friction markets‚ demand creates supply (how shopping for products was done before internet shopping). Another concept that ties in with a friction-free economy‚ is the demand elasticity. The demand elasticity becomes more inelastic when the friction is higher‚ and more elastic when the friction is lower in an economy. In a friction-free economy‚ buyers can use the internet to quickly compare prices‚ read reviews‚ and purchase items. However‚ not all firms are affected the same. Even with the internet
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QUESTION 1: Discuss the resort industry in Malaysia specifically Redang Island. A charming history has turned Malaysia into a multinational land of extreme contrasts. Travelling in Malaysia has been a heart-warming experience‚ while its first class infrastructure makes travelling in Malaysia a convenient and comfortable stay. The gastronomical paradise consists of millions-years old forests‚ state of art skyscrapers and hundreds of colorful festivals by all the races in Malaysia (Tourism Malaysia
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for you 5. Assume that Chicken and Beef are substitutes. Following an increase in the price of Chicken‚ all other things equal‚ we should expect to see: The demand for Beef will increase. 6. Which of the following goods will have the most inelastic demand? Food (fewest substitutes) 7. Which of the following will cause the supply of bagels to increase? An increase in the number of bagel sellers in the market and An advancement in the technology used to produce bagels 8. Agricultural
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product is inelastic‚ the increased price will not effect consumption of the good to a great extent. So employment rates would remain relatively the same. The opposite effect would happen for elastic good. If labour costs make up a small proportion of total costs‚ then any increases in the wage rate would have little effect on employment‚ as total costs would have only increased by a small amount. Where labour and supply are both inelastic‚ employment costs are minimised. If they are both elastic‚ more
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