executive economic analysis

Project Description:

chapter 1 - answer the following “review questions and problems” on pages 13-14.

· 1.1, 1.3, 1.5, 1.9, 1.10

· questions and problems marked with an asterisk have solutions given in answers to selected problems at the back of the text.

· applications: none

chapter 2 - answer the following questions for chapter 2.

1. explain how the supply-demand model can be used in reverse to explain market outcomes. hint: study the material pertaining to figure 2.7.

2. price elasticity of demand:

a. describe the relationships between price elasticity of demand, price changes, and the impact on total expenditures for a product. hint: see figure 2.9.

b. how is price elasticity of demand affected by substitutes and time?

3. answer 2.2 on page 44 of your text.

4. cross elasticity of demand:

a. answer 2.19 on page 46 of your text.



a. explain the positive relationship between unemployment insurance and the unemployment rate.


a. explain the shifts in demand and supply that account for the dramatic increase in hotel rates in mumbai.


a . explain the effects of a price ceiling of zero imposed on potential organ suppliers .


a. why do small oil supply/demand shocks cause such large gyrations in price?
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