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Apple's stock was worth $11.78 on in January of 2007, a few weeks before the iPhone was announced. As you know, the iPhone was a big hit and in January of 2018 the stock was selling for $175.48. What was the annual growth rate of the value of the stock? (Give your answer as a decimal, e.g. 7.5% would be 0.075.)
When Michael got a pay raise and began to earn $6,000 per month, his demand shifted outward to Q = 20 – 0.25P. Given this information, find Michael’s income elasticity (EI) for filets.
Suppose you were having lunch with your best friend who just enrolled in an economics class. He was complaining about Explain how irrelevant class was, commenting that he saw no useful purpose for economics.
Does a persistent balance of payment deficits result in a pressure to devaluate the currency.
Suppose the price of airfare from SFO to JFK increases from $330 to $360 while no other variables change. In consequence, the quantity of tickets sold decreases from 180 to 140. Calculate the absolute value of the price elasticity of demand. (Hint: u..
Suppose that the three-month interest rate in Australia is 2 percent and it equals 4 percent in the United States. Suppose further
What is the project's IRR? Note that a project's IRR can be less than the cost of capital or negative, in both cases it will be rejected.
This had instantly squeezed his margins as his costs had risen directly with the exchange rate. He could not find anyone to sell him dollars. His customers needed supplies and they needed them quickly, but how was he going to come up with the $30,000..
What is the biggest "problem" with allocating public goods?
What is the duopoly Cournot equilibrium - that is, the quantities produced by each firm - if the market demand function is q(p) = 1000 - 1000p, and each firm has a cost of $0.28 per unit?
Instruction: Do not round intermediate calculations. Round your final answers to the nearest penny (two decimal places).
An open pit mine must fund an account now to pay for maintenance of the pit mine in perpetuity (after the mind shuts down in 30 years). The cost until shut down are part of the mine's operating cost. The maintenance costs begin in 31st year at $30000..
1) How are scarcity, choice, and opportunity cost related? 2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected? 3) Why is elasticity of demand greater for goods that are a large share of a consum..
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