This is in line with the law of demand which states that “when piece of a product rises and other things remain constant, the quantity of the product demanded will fall (McEahern, 2008, p.72). Moreover, the graph…
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e Americas Cup sailboat races increases interest in sailing, it will have two effects: raising the equilibrium quantity and raising the price of sailboats. There will be a shift towards the right for the demand curve, driving price and quantity.
b) If producers expect the price of sailboats to rise next year, there will be two effects: the lowering quantity supplied and raising the price of the sales boat. The will be a leftward shift of the supply curve.
c) If the cost of fiberglass used in the production of sailboats increases the supply of the sailboats will lower and the price will increase. The supply curve shifts rightward driving the price and quantity as indicated in the graph.
a) Price elasticity of demand for food is higher in Tanzania than United States because of the difference in average income. The larger the amount of income spent on food purchases, the larger is the price elasticity of demand for food (Parkin, 2007, p.93). The average income in Tanzania is very low when compared to that of United States, implying that the proportion of income spent of food is large. This high price elasticity imply that much of the income in Tanzania is spent on food purchases while only a small amount of income is spent on food in US. Note that the high price elasticity does not mean that food purchases in Tanzania are more compared to US, but only indicate income spending on food.
b) Tax on gasoline will provide more tax revenue than tax on restaurant meals. This is because gasoline does not have really close substitutes like restaurant meals. Despite the price changes in gasoline, automobiles must drive on the product. However, if restaurant meals became expensive, people may opt to cook by themselves and evade the high prices of restaurant meals. Therefore, tax revenue which is dependent on the quantity of goods sold and tax will be higher for gasoline than restaurant meals.
a) Consumer surplus at the competitive equilibrium = the area above the price
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and perceptions of power 11 1Definition of Power 11 2Different Perceptions of Power 12 3Effect of Power on Counsellor-Client Relationships 12 4Reducing Power Differences 13 5Reasons and Challenges of Reducing Power Perceptions 13 6Health and safety issues 13 1Reasons for Safety Needs 13 2Workers and Organisational Responsibilities 14 3Advantages of Safety Policies 14 4Constrains Of Safety Policies 14 7Definitions and discussions 15 1Stereotypes 15 2Language Issues and Differences 16 3Differing Belief Systems 18 4Family Patterns 19 5Family Life Experiences 21 8Conclusion 100 22 9Bibliography: 23 1 Introduction There is an unequal power base in the heart of all relationships.
The complexities of bipolar disorder are genetically transferred in to patients along with the environmental factors that also contribute to the development of bipolar disorder. Bipolar disorder prevails in genders, men as well as women. The mood swings associated with it interchange from major or clinical depression to mania or intense elation.
Generation Y has experienced large changes in technology, so they have learned to exploit it quite effortlessly. However, they have become quite dependent on technology to conduct significant tasks and to express their individuality (Kumar & Lim, 2008, p.570).
The organization doesn't have enough capacity and the patients have to wait for long hours to meet a doctor. Also, the NHS facilities don't have the required infrastructure to accommodate all the patients approaching them for care. NHS has to urgently set its priorities and hire more GPs and hospital staff to increase its capacity.
It is dark, thought - provoking and relentlessly cruel. It explores the lengths people will go for love, in a relationship or for art, for friendship or for themselves. However despite showing considerable promise, the film fails to deliver the goods. Paul Rudd, Rachel Weisz, Gretchen Mol and Frederick Weller, cast members from the play, star in this provocative but unsatisfactory film.
For example, when an original image is compared to the JPEG (Joint Photographic Experts Group) compression of it, then it is using the original image as the reference. The other process of image quality assessment is called as the NR or No-reference method. As
The initial debate on the cause of the current financial crisis was focused on the role of subprime mortgage and the toxic debt which banks have acquired. The subprime lending was done in order to derive more returns for the banks however; this was done
the parole system serves to initiate accountability, enhance safety among society members and reduce costs of managing the paroled convicts while in the society. The former system was unfair on all convicts. Abolishment of the federal parole system ensured that convicts develop
Literally interpreting biblical terms is also associated with many flaws and has received criticism because some of the text from the bible does not make any sense when taken literally, for example, literal
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