Suppose budding economist Buck measures the inverse demand curve for toffee as P=$100−DP=$100−QD and the inverse supply curve as P=SP=QS . Buck's economist friend Penny likes to measure everything in cents. She measures the inverse demand curve as P=10,000−100DP=10,000−100QD and the inverse supply curve as P=100SP=100QS . A) Find the slope of the inverse demand curve, and complete the price elasticity of demand at the market equilibrium using Buck's measurements.

B) Find the slope of the inverse demand curve, and complete the price elasticity of demand at the market equilibrium using Sally's measurements.

C) Does the slope depend on whose measurements are used?

D) Does the elasticity depend on whose measurements are used?

E) Explain why your answers to parts c and d are the same (or different).

The average daily foreign exchange trading by banks around the world is closest to $ a. 1.5 trillion b. 1 trillion c. 600 billion d. 700 billion e. 1.3 trillion

Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.

In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources.b. (ii) determine how much of each good gets produced.c. (iii) can be used to predict the impact on the economy of various events and policies.d. all of (i), (ii), and (iii) are correct.