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The demand for good x is Qx = 10,000 - 4Px + 5Py + 2M + A, where Px is the price of x, Py is the price of good y, M is income and A is the amount of advertising spent on x. Suppose the present price of good x is $50, Py = $100, M = $25,000, and A = $1,000. The price elasticity of demand for good x is approximately:
a. -0.003.
b. -0.045.
c. -0.22.
d. -3.00.
e. None of the above.
Suppose that the price of good 2 relative to that of good 1 is 2. Determine graphically the wage rate and the allocation of labor between the two sectors.
An analyst has timed a metal-cutting operation for 50 cycles. The average time per cycle was 10.40 minutes, and the standard deviation was 1.20 minutes for a worker with a performance rating of 125 percent. Assume an allowance of 16 percent of job..
Consider the following model of aggregate demand, in which there is no international trade, the price level is fixed, and the symbols are defined as in class (all dollar amounts in billions):
What was the growth rate of real GDP between 1996 and 1997? f. Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
Can you make a decision of what part of the business cycle the U.S. economy is currently in? Why? What factors lead you to this conclusion?
A) Suppose Jean Splicer, an investor, buys $100,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $108,000. If the value of the CPI at the date of Jean's purchase was 160, and rose b..
Denote by mi the median favorite position among the citizens of state i, for i = 1,2; assume that m2
Determine the main differences between re-engineering and continuous Improvement as Quality Management Philosophies?
Compare the unemployment rate in your state to the national average of the past four years. Compare the trends in relation to the types of unemployed workers in your state. Provide support for your response.
Mega Farm produces 100,000 chickens per month, at a total cost of $91,000. These data suggest that there are significant economies of scale in chicken production. Do you agree or disagree with this statement? Explain your answer.
The Joe firm is experiencing financial problems. Its dividends and earnings are falling at a constant rate of 7 percent per year. It's stock just paid a yearly common stock dividend of $1.50 per share;
Describe the dimensions of quality from micro- and macro-perspectives. What are the different formats or models and applications of quality? Discuss the top three in your opinion.
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