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Comment on the long and short term cross-price elasticity of demand for petrol and diesel.

The short-term XPED for petrol and diesel is likely to be very low, as most consumers are unable to quickly switch between the two fuels for their vehicles. However, if there is a significant difference in p...
JS
Answered by James S. • Economics tutor
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The curve A (y = x3 – x2 + x -1) is perpendicular to the straight-line B at the point P (5, 2). If A and B intersect at P, what is the equation of B? Also, find any stationary points of the curve A.

Firstly find the gradient of A, through differentiation: dy/dy = 3x 2 – 2x + 1. To find the gradient at P, substitute the x value of the P coordinate into this equation: dy/dx = 3(2) 2 – 2(2) + 2 = 12 – 4 + ...
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Answered by James S. • Maths tutor
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What relationship does Phillips curve show us?

Bill Phillips was an economist from New Zealand who spotted that when employment levels are high, wages rise faster, therefore people start spending more money, therefore, boosting aggregate demand. This eva...
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Answered by Simeon P. • Economics tutor
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What should I focus on in an A-Level English essay?

It is important when writing an A-Level essay to focus on all of the assessment objectives, this means analysing the text itself, drawing on criticism and exploring the context. This can seem like a lot of w...
CP
4194 Views

What do you need for a good medicine personal statement?

Your personal statement is your chance to tell the admissions tutors more about yourself (personal) and to set yourself apart from other candidates (statement). In the opening paragraph you want to introduce...
MB
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