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solve fast economics 1. When the price of bananas increases by 20% the quantity demarded of apples increases by 3035. What is the value of
solve fast economics
1. When the price of bananas increases by 20% the quantity demarded of apples increases by 3035. What is the value of the cross-price elasticity of demand? a) 0 b) -1.5 c) 2/3 d) 2/3 e) 1.5 . 2. Which of the following is a possible change in total revenue that occurs if you increase the price of a good with unit elasticity? a) 10s b) 0% c) 1% d) 5% e) 1% 3. Maximus, Eli, and Theodore are all spending their entire budget on candy and movie tickets: Candy costs $1 per bag, and movles cost $1 per ticket. Their current consurnption and the marginal utility of that consumption are given in the table below. Which boy is in equilibrium? a) Theo b) Maximus c) Eli d) None 4. Uiterior Vothes is a firm in a perfectly competitive market that produces candles. Recently, it increased all of its inputs by 20% and output subsequently increased by 10%. What is this firm experiencing? a) constant returns to scale b) minimum efficlent scale. c) increasing returns to scale d) diseconomies of scale e) decreasing returns to scale Step by Step Solution
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