CASE STUDYHOLLAND SWEETNER VERSUS MONSANTO1Aspartame is a low-calorie sweetner marketed by Monsanto under the name ofNutraSweet. It was a major impetus to the rapid growth of Diet Coke and Diet Pepsiduring the 1980s and 1990s. A scientist at the G.…
Third Degree Price Discrimination Sample Homework Question: Explain how and why firms practice 3rd degree price discrimination. Use the handout to illustrate your answer (coupons; airlines, mobile phones). Ans: Practice of dividing consumers into two or more goods with separate…
Property Rights Sample Homework Question: Explain the different elements of property rights. Provide an example of how the US economy infringes on each. Property rights are protected in the current laws of states usually found in the form of a…
National Saving and Investment Sample Homework Question: In the national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving? (10 marks) Ans: In…
Growth of Income Per Person Sample Homework Question: Use the data below to find out the growth of income per person (over the entire period, not an annual basis) between the two years listed. Year Real GDP (1996 prices) Population…
Elasticity of Demand Sample Homework Question:Define Elasticity of Demand.Provide a numerical example. Ans: Elasticity of demand refers to the degree of responsiveness of demand due to the change in the factors affecting demand. The concept of demand elasticity used in…
Consumption and Savings Sample Homework Question:What is the relationship between savings, capital formation, and consumption? Ans: Consumption C is expenditure of households. Savings S are that part of income Y that is not consumed but saved for future. Savings result…
One country enjoys a comparative advantage over another in producing oil when it has more oil than the other country. it can produce oil at a lower opportunity cost than the other country. it does not need to import oil.…
what is the difference between demand and quantity demanded? Demand and quantity demanded although sense the same thing but has very important differences in terms their meaning. Demand refers to entire relationship between prices and quantity demanded at every possible…
ELASTICITY ASSIGNMENT: Name:___________________________________ The following table gives some data on the demand for long distance telephone calls: QTY (millions of minutes per day) Price (cents per minute): SHORT RUN LONG RUN 10 700 1000 20 500 500 30 300 0…