Assume a consumption function that takes on the following algebraic form: C = $100 + .8Y. Assume that Y = $1000 what is the level of consumption at this income level. C = $100 + .8($1000) = $100 + $800 = $900. 1. Using the above figure calculate the marginal propensity to consume between the aggregate income levels of $80 and $100. Also explain why this consumption function is linear. The marginal propensity to consume is equal to $15/$20 = .75. The consumption
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Question 1 (a) Price (P‚$’000) Quantity (minutes) Total Revenue (TR‚$’000) Marginal Revenue (MR‚$’000) Total Cost (TC‚$’000) Marginal Cost (MC‚$’000) Average Cost (ATC‚$’000 per minutes) 90 100 9000 --- 5000 --- 50 80 120 9600 30 5500 25 45.83 70 140 9800 10 5700 10 40.71 60 160 9600 -10 6000 15 37.5 50 180 9000 -30 6400 20 35.56 (b) The market structure of television broadcasting industry is oligopoly. As the television broadcasting industry requires
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Role of Business 1 The Role of Business and the Economy Jared J. Leda Professor Matthew Schigur BUS 100‚ Assignment #1‚ May 4th 2013 Role of Business The role of business in the economy is to ensure capital growth‚ provide employment‚ and to produce goods and services. Business is the economy. If there was no business there would be no need for a economy. Small and big business firms pay taxes needed to support governments‚ give jobs to citizens‚ and provide consumers the products
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The general manager of the grocery store Wegmans in Canandaigua‚ NY‚ wants to know the average (typical) amount of time it takes for a customer to check out of his grocery store. Last Saturday between the hours of 8 am and noon the manager‚ along with a team of helpers‚ measured the amount of time it took the first 200 customers to check out at each of its open registers. The helpers recorded the time (in minutes) using a stop watch‚ starting when a customer first arrived at a line and ending when
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regression equation? Give your answer correct to two decimal places. Question 3 1. A recent study by the World Bank wished to determine whether there was a relationship between the abundance of natural resources in a country and its long term rate of economic growth. Their study used 65 (n) countries over a long period to 1995. Letting Y be the rate of growth measured as a percentage and X be a measure of natural resource abundance‚ the following relationship between the two variables was estimated. Standard
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Kiss 100 Marketing Coursework BSc Management By: Boris Borisenko‚ Artem Login‚ Dajana Kostic and Ekaterina Naboychenko. Introduction For our coursework we have chosen Kiss 100 — radio station which specializes in rhythmic and dance music. It is one of the most popular and successful radio stations in London‚ reaching around 2 million listeners per week. However‚ it also has quite strong rivals‚ especially Capital FM in the target market. Hence‚ we have to explore new product for Kiss
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Economics | | |Sr. No. |Core Areas |Percentage | |1. |Micro-Economics |15% | |2. |Marco-Economics |15% | |3. |Econometrics
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University Foundation MacArthur Highway‚ Angeles City Health Economics Inflation Rate as a Health Economic Indicator Garcia‚ Juana Sophiya Ariza Lacap‚ Jonnabelle Lacsamana‚ Christoper Jel Lagman‚ Benjamin Lalu‚ Lyka Mancenon‚ Lisel Mandap‚ Paula Bianca Mande‚ Chanell abong‚ Ergs BSMT2-E Mrs. Nicole Rivera Inflation Rate as a Health Economic Indicator Definition of Health Economic Indicator A health economic indicator is a statistics about the production‚ distribution‚
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questions 2 and 3‚ you need to use the document ’Graphs_HW 9’. Click on the link to get a copy. 2. Using Graphs 1‚ which sequence shows the logic of the interest rate effect? A sequence would be 2‚ 1‚ 4‚ 3 for example. Note: you may have similar quiz questions. 3. Use Graph 2. Graph 2 represents a short run money market with a current money supply of $250 billion‚ an equilibrium interest rate of 4%‚ and a required reserve ratio of 8%. Suppose firms and consumers become optimistic and
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• Question 1 0.0 out of 0.5 points Jane was the only female in her office‚ and her male coworkers all felt that she was inferior to them. As a result‚ they subjected Jane to unwanted advances‚ inappropriate touching‚ and sexual nicknames. This situation is an example of: Selected Answer: d. Both a and c • Question 2 0.5 out of 0.5 points Sarah works as a lawyer in a prominent law firm in New York City. She has more awards and recognition in her field than any of her colleagues
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