Summarize the Keynesian model: OA. The Keynesian model emphasizes aggregate demand by focusing on the underlying determinants of output and employment in markets, but tends to put less emphasis on economic growth and how labor markets work. O B. The Keynesian model emphasizes aggregate supply by focusing on the underlying determinants of output and employment in markets, and thus tends to put more emphasis on economic growth and how labor markets work. OC. The short-term Keynesian model is built on the importance of aggregate demand as a cause of business cycles and a degree of wage and price rigidity, and thus does a sound job of explaining many recessions and why cyclical unemployment rises and falls. O D. The short-term Keynesian model is built on the importance of aggregate supply as a cause of business cycles and a degree of wage and price rigidity, but does a poor job of explaining many recessions and why cyclical unemployment rises and falls.

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10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a nationwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer count in the stores was recorded and stored in . At the 0.05…

1 3 8. 12 12 y 11 17 18 19 16 16 19 23 23 Ex^2 = Your answer Ey^2 = * Your answer Σxy=_ Your answer

Y = AK1/3L2/3; Y = 30, K = 10, L = 20. The TPF is A. 1.89 B. 0.89 C. 1.27 D. 1.05

Find the price and income elasticity of demand for the following demand functions at the given point on demand.

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