1. Which of the following would most likely cause equilibrium quantity and price of x to rise? (a) a fall in income when the income elasticity of demand for x is positive Wrong. This will cause a drop in demand and thus a fall in quantity. (b) a fall in the price of complementary product y Correct. A fall in a complementary product will cause a rise in demand for that product “y” and thus a rise in demand of product “x” (see graph). (c) a fall in the price of substitute product Z Wrong
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International Journal of Economics and Finance; Vol. 5‚ No. 10; 2013 ISSN 1916-971XE-ISSN 1916-9728 Published by Canadian Center of Science and Education The Real Exchange Rate Misalignment: Application of Behavioral Equilibrium Exchange Rate BEER to Morocco1980Q1–2012Q4 Hind Lebdaoui1 1 School of finance‚ Shanghai University of Finance & Economics‚ Shanghai‚ China Correspondence: Hind Lebdaoui‚ School of finance‚ Shanghai University of Finance & Economics‚ Shanghai 200083‚ China.
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INTRODUCTION At the beginning of the 20th century there was much debate about the nature of communities. The driving question was whether the community was a self-organized system of co-occurring species or simply a haphazard collection of populations with minimal functional integration (Verhoef‚ 2010). Krebs (1972) described a community as an assemblage of populations of living organisms in a prescribed area or habitat. However‚ according to Wright (1984)‚ the working definitions of community
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relative wages. The equilibrium wage rate can therefore be defined as the point/price where demand for labour equals the supply of labour. The theory of marginal productivity of labour states that demand for workers depends on their marginal revenue product (MRP – the value of the physical addition to output arising from hiring one extra unit of a factor of production. Where the MC of taking on an additional unit of labour equals its marginal revenue product‚ the equilibrium quantity of labour will
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employment from the Australian market economy. Importing goods mean that fewer Australian resources are utilised and production falls. Thus‚ the level of income decreases and the flow of money becomes smaller. Eventually however the flow would return to equilibrium but at a lesser rate and the circular flow would
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Explain why negative externalities are an example of market failure? Market failure refers to the failure of the market to allocate resources efficiently. Market failure results in allocative inefficiency‚ where too much or too little of goods or services are produced and consumed from the point of view of what is socially most desirable. Hence when there are negative externalities caused during consumption and production‚ this causes a welfare loss further more causing market failure. Negative
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Interpretation of reaction by the Le Chatelier’s principle Objective: To determine the factors that affecting the equilibrium position Introduction: Le Chatelier’s principle states that if a system in equilibrium is subjected to a change‚ the equilibrium position of the system will shift in a direction to minimize the effect of the change. Iron(III) ions and thiocyanate ions (NCS-) react in solution to produce thiocyanatoiron(III) (FeNCS2+)‚ a complex ion‚ according to the equation:
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the factors that affecting the equilibrium position Introduction Iron(III) ions and thiocyanate ions (NCS-) react in solution to produce thiocyanatoiron(III) (FeNCS2+)‚ a complex ion‚ according to the equation : Fe3+(aq) + NCS-(aq) [pic] FeNCS2+(aq) yellow colourless blood red The colour produced by the complex ion indicates the position of equilibrium. In this experiment‚ iron(III) chloride solution‚ potassium thiocyanate solution and solid ammonium chloride
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Experiment 12A Investigating chemical equilibrium ABSTRACT 1. What is equilibrium and how can you tell it has been reached? __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ 2. What is a “stress” and how does it affect an equilibrium? _______________________________________
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**The purpose of this experiment was to visually observe the effects of how changing certain aspects of the reaction affected the observed equilibrium. PROCEDURE: Introductory activity Part A: Effect of Concentration: Two different temperature water baths were created‚ one at 65-70oC‚ the other ice‚ and set aside for Part B. 20 mL of potassium thiocyanate solution were poured into a petri dish. The initial color and all subsequent observations were recorded in the data table. Three drops of
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