Suppose the price elasticity of demand for heating oil is 0.1 in the short run and 0.9 in the long run. if the price of heating oil rises from $1.80 to $2.20 per gallon, the quantity of heating oil demanded will % in the short run and % in the long run. the change is in the long run because people can respond easily to the change in the price of heating oil.

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?

When the two countries did not specialize, the total production of jeans was 23 million pairs per month, and the total production of corn was 68 million bushels per month. because of specialization, the total production of jeans has increased by million pairs per month, and the total production of corn has increased by million bushels per month. because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade?