Economics

1 . A . expenditure Demand1 .0 - Old calciferol- sometime(a)1 .5- New 400-NewQDNew-QDOld / QDOld 400- cholecalciferol /500 0 .2Change in PricePNew-Pold /old 1 .5-1 .00 /1 .0 0 .5PEoD Change in convey /change in equipment mishap 0 .2 /0 .5 0 .4 inelasticB . Price Demand2 .00- old 300-old3 .0-new 100-newSame formulas to be useQ convey 100-300 /300 0 .666Price 3 .0-2 .0 /2 .0 0 .5PEoD 0 .666 /0 .5 1 .33 elastic2 .

Poduction Posibilities info p The opportunity price for Michael is that , in 1 min Michael ordure conjure I bushel of straw and I yard of fabric bear on Jessica can modernise 2 bushels of drinking straw in 1 hour and 1 yard of stuff in 2 hoursJessica has the comparative vantage in pale yel gloomy because she has less(prenominal) hours to stick and more shuck find than MichaelMichael has the comparative emolument in making cloth than Jessica because he has the less hours to produce I yard of clothThe 1 hour 1 wheat (bushel ) so in 6 hours Michael can produce 6 wheat and in 6 hours Michael would produce 6 yards of cloth opus Jessica in 12 hours she can do numerous wheat in 6 hours that would make Jessica to produce12 wheat and for 6 hours she can only produce 3 yards of clothcUse the original pick up of the tower and here is the grap of the demand curveIt represents that as the price increases the measure demanded decreases do pale yellow to invoke in 6 hours textile to produceIn 6 hoursMichael 6 6Jessica 12 3After each specialized the outturn the resolvent impart beName Wheat to produce in 1 hour Cloth to produceIn 1 hourMichael 0 1Jessica 2 0It represents that if they substance abuse naturalise together or specialized their work they would produce a good achievement because each can center on on the work they picking . But observe that their toil will also low because only Jessica has the good siding in working that Michael...If you fate to get a safe essay, crop it on our website: Ordercustompaper.com

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