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 price and quantity. Label carefully. (d) Now assume the government
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Cellphone In this technology era‚ cellphones has become very useful tool to get work done easily. Cellphones nowadays do such a significant function in our lives in several fields‚ such as‚ Business fields‚ Medical fields‚ even more importantly‚ the personal usage of them. Cellphones with the intelligent functioning of humans have become capable of doing lot of different jobs such as instant communication and many other functions of them. However‚ before cellphones invention were not able
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Monica Perez Period 3 MT2 Make Up Law of supply and demand: Sony‚ Nintendo‚ and Microsoft Many big industries now focus on the production of the best product/services for the people and other companies. Industries such as Sony‚ Microsoft‚ and Nintendo have developed new consoles ranging from prices of $499.99 to $199.99. But how does the law of supply and demand affect their pricing? Also are these products elastic and how many substitutes are available? The Sony‚ Microsoft‚ and Nintendo industries
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Case in the news: Demand/Supply and Equilibrium This article is based on the fundamental idea of supply and demand of the iPhone 5 whose demand has outstripped its supply. Due to the fact that the demand is so high‚ even those who pre-ordered the new slim iPhone 5 had to wait until October to get this new phone. The sales have broken all previous records and stand tall at 2 million phones in the first 24 hours. According to the article people had been
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In “Extra large‚ Please‚” Alice M. Davies focuses on the increase of obesity with children‚ which schools are provoking. There are many various social problems in kids of America today ranging from poverty to drug abuse. One alarming factor that is rapidly exploding is childhood obesity. Alice Davies’ article‚ “‘Extra Large‚’ Please‚” which describe the alarming social problem of childhood obesity connected to the fast food industry in America today. Davies stated: “the number of American kids
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Analysis Paper Cell Phones In Prison Inside of prison walls all over the United States prisoners look forward to one thing the most‚ having phone conversations with their loved ones. Over 2.2 million Americans incarcerated and the extremely high cost to purchase phone minutes has created a demand for cell phones in prison. The few companies that offer prison phone services have made minutes unaffordable for inmate’s families who are mostly low income. Not only the phone companies are making
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SUPPLY AND DEMAND Monica Minj SUID: 1834386 Seattle University Supply and Demand Supply and Demand is the most fundamental concept in economics and it plays a vital role in determination of price of goods in the market. Supply is the ability of a market to offer a product at a particular price and demand is the quantity of a product or service demanded by the people at a given price. The correlation between the price and quantity supplied is known as the supply relationship whereas the relationship
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Cell Phone Technology The cell phone technology that is ever changing by the day was scientifically invented and born back in the early 1980’s. Science was the main key to the birth of the cell phone which was put together by the Motorola Company who today is still making cell phones. Before the cell phone came out the car phone was the first mobile phone which were very large and had to be hooked up to a briefcase which supplied the power for the mobile phone. Science was the utilized to create
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difference between Change in Demand vs. Change in Quantity Demanded. 1. If Coke and Pepsi are both priced at $1.00‚ and Coke raises it’s price to $1.50 but the price of Pepsi remains unchanged‚ look at the charts below and explain what is happening to Price and Quantity for both products. In your answer‚ refer to the chart on the left as Chart A and the chart on the right as Chart B: Fill in your Answer here: In chart A the price of the supply is high less of a demand there is for the product
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My favorite color is white. It’s a symbol for peaceful. white color is nothing but a without color. It seems cool. We can reduce the any of the bright colors to light colors by adding them white color. not only me most of the people in the world likes white color only....bec’z we can see the white color every where in the world‚ every where in our surroundings unlike other colors. My favourite colour is Red. Because Red is the color that we pay the most attention to. It is the warmest and most
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