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Homework Set 3

Principles of Economics

Name:

Date: Question #1: Draw a perfectly inelastic supply curve.

Answer: Question #2: If elasticity of demand is 0.5 and price is lowered from $20 to $19, by

what percentage will quantity demanded rise?

Answer: Question #3: (a) Illustrate a tax increase. (b) State what happens to equilibrium price and quantity

Answers: m price and quantity. Question #4: If the price of eye surgery falls by 50-percent and the quantity of contact

lenses demanded falls by 25-percent, find the cross-price elasticity of demand for

Attachments: 

Homework Set 1

Principles of Economics

Name:

Date: Question #1: List some constraints on our labor force that prevent our fully using our

plant and equipment 24 hours a day, seven days a week

Answers:

1

2

3 Question #2: When we are efficiently allocating our resources and using the best

available technology, we are operating on our _________________________.

Answer: Question #3: Economic growth can be attained by:

Answer:

1

2 Question #4: Full employment implies an unemployment rate of about ____________

percent.

Attachments: 

Paraphrase

Download the attached essay and paraphrase it. Do not use word spinners. I need the paper back after 4 hours time.

AMP 415 Week 2 Assignment Common Size

Please see all three attachments for the complete question.

Accounting M2

Assigned questions for Module 2 are:

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