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In anticipation of a major hurricane hitting the Gulf Coast, the quantity of gasoline sales rise from 325 million gallons to 340 million gallons.
Based on this information, what is the percent change in gasoline sales? Please specify your answer to one decimal place and use the midpoint formula.
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(A) Identify the FOUR (4) assumptions underlying the Production Possibilities Curve. Ireland is known for the production of Houses and Agricultural products. The following is a production possibility schedule for Ireland. Combinations Houses Agricultural Products A 0 150 B 10 145 C 20 130 D 30 100 E 40
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Consider the Production Possibilities Frontier (PPF) above which shows two possible outputs of a hypothetical economy — cars on the vertical axis (output 2) and laptops along the horizontal axis (output 1). Answer these two questions (a few sentences each): #1) Can society currently produce at any point from
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(1) The relationship between the total utility and the marginal utility. Total utlity is the total satisfaction that a person receives from consuming or using certain goods and services. Marginal utillity is the additional satisfaction that a person receives from consuming one additional unit of a certain good or services.
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