Use the following information about the demand elasticities for apples's in the US to answer the questions that follow. Own-price elasticity: -0.45 Cross-price elasticity with bananas: 0.15 Cross-price elasticity with eggs: -0.30 Income elasticity: 0.15 Which of the following is true? O a. Apples are a complement for eggs and bananas O b. Apples are complement for bananas and a substitute for eggs O C. Apples are a complement for eggs and a substitute for bananas. O d. Apples are a substitute for eggs and bananas

If production of a good increases from 45 to 117, what is the percentage change in the quantity produced?  Enter a number rounded to two decimal places.  Do not enter a percent (%) sign.

Unemployment Question The small country of Macroland has a population of 100,000 people over the age of 18 and under 65. There are 50,000 people under the age of 18, and 20,000 people over the age of 65. The number of people between ages of 18 and 65 that are looking for jobs is 20,000, and the number that have jobs is 50,000. Using this information, answer the following questions. Show your work. These are numbers for the month of January. а. What is the labor force of Macroland for people between the ages of 18 and 65 in January? b. What is the unemployment rate of Macroland for people between the ages of 18 and 65 in January? What is the labor force participation rate of Macroland for people between the ages of 18 and 65 in January? с. Now assume there were some changes in February. Of the people between the ages of 18 and 65 in Macroland, about 2000 who were looking for work now dropped out of the labor market, and stop looking for work. In addition, 8000 people who were previously…

Question 13: (a) The consumer price index (CPI) is the most commonly used measure of changes in the general level of prices in Australia. Discuss some shortcomings of using the CPI to measure the cost of living. (b) Why do some people 'lose' from inflation and why do some people 'win' from inflation?

(Boundaries of the Firm) Ashland Oil buys its crude oil in the market. Larger oil refiners, such as Texaco, drill for their own crude oil. Why do some oil companies drill for their own crude oil and others buy crude oil in the market?