Elasticity of supply. Factors of price elasticity of supply.

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Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same, What is the implied (approximate) interest rate if black sells for S31, red for SI 08 and blue for $12,720.

Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $18, red for $34 and blue for $388.

The present value of  $1 payable in two years is 

If real extra costs do not change, the relative price of a finite resource would be expected to

Suppose an individual has a fixed amount of wealth to allocate between consumption in two periods ( C₁and C₂). Any funds not spent in period 1 will earn interest (at the rate r), which will increase purchasing power in period 2. Consider four possible reactions to an increase in r:

I.   C₁ increases.

II.  C₁ decreases.

III. C₂ increases.

IV. C₂ decreases.

Which of these is consistent with the hypothesis that both C₁ and C₂ are normal goods?

Suppose right (R) and left (L) shoes arc only useful if produced in equal proportion and societal happiness is expressed as min(R,L). The contour lines would be

The slope of the budget constraint line is

If the prevailing price of shirts is S10 and at this price demanders demand 300 shirts while suppliers are willing to supply 110 shirts, there is a