1.a) Suppose the price of flour increases from $0.80 to $1.00 a pound and the quantity demanded

decreases from 100 pounds to 95 pounds. What is the price elasticity of demand for flour? Is the

demand for flour elastic or inelastic?

b) If the price of suntan lotion increases from $6 to $8 per bottle and quantity demanded

decreases from 900,000 bottles to 845,000 bottles, what is the price elasticity of demand for

suntan lotion?

c) When the price of a movie ticket falls from $14 to $10, the quantity of tickets demanded

increases from 500 to 700 a day. What is the price elasticity of demand for movie tickets?

2.How much should a father invest at the time his daughter is born in order to provide her with $50,000 at age 21? Assume that the interest is 8% compounded semiannually

How much should the father invest?

3.Elasticity is a fundamental economic concept to understand intuitively. If I were to say that a single working mother is an example of labor inelasticity, would that be correct? In business and economics, elasticity is used in demand or supply.

4.Elasticity is a fundamental economic concept to understand intuitively. If I were to say that a single working mother is an example of labor inelasticity, would that be correct? In business and economics, elasticity is used in demand or supply.

5.The price elasticity of demand for medical devices is about -0.25 to -.30. Suppose you were an economist for the medical device industry. How could you use this information to help forecast medical device sales in the United States?

6.For the demand equation, P = 2,000 - 2Q, answer the following:

a.What is the vertical intercept?

b.What is the horizontal intercept?Must show calculations.

c. What is the slope?

7.Does Keynesian economics critique neoclassical economics. Explain

8.Importance of budget includes

9.Factors that make it congenial or agreeable for a group of nations to start a process of Economic integration?

10.Need help solving "Xa*9.6%+(1-Xa)*7.8%=8.88%"