Define and explain: A) the elasticity of supply, B) elasticity of demand using the midpoint formula with an example of P1, P2, Q1 and Q2. Define and explain C) elastic and inelastic demand, D) unitary and infinite elasticity. E) Explain income and cross price elasticity.
Read DetailsDefine and explain: A) the characteristics of the factor markets, e.g., the labor markets and markets for land. B) Define and explain the role of the financial markets and the value of the marginal product; C) equilibrium in the factor market. D) What is the influence of robots and automation in the factor market for oligopoly and monopolistically competitive firms? Explain. E) What effect will artificial intelligence have on the labor market? Explain.
Read DetailsDefine and explain the characteristics of the Texas municipal governments in terms of: A): the legal status and B) the forms of municipal governments and C) the sources of revenues. D) Do municipal governments play an essential role in the overall organization and functioning of society? Explain. E) Explain role of a city charter and ordinances.
Read DetailsDefine and explain the formal and informal executive powers of the Governor of Texas: A) appointive, removal, military, law enforcement, B) budgetary, executive orders, proclamations and economic development. C) Why is the Texas executive branch classified as a plural executive? Explain. D) Why is the Governor of Texas referred to as a “weak” executive? Explain. E) Should the Texas executive branch be reorganized? Why? Why not? Explain.
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