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Question
Assume that the price elasticity of demand on coffee is -0.6.
(a) How many percent would coffee quantity demanded decline if the price of coffee increased 30 percent?
(b) If Starbucks raised its coffee prices by 30 percent and all other firm kept the same price, would the change in Starbucks' sales be the same as your answer in (a)? How do you explain these responses?
Suppose that a biotech firm in Pittsburgh raised $113 million in an IPO. The firm received $23 per share, and the stock sold to the public for $25 per share. The firm’s legal fees, SEC registration fees, and other out-of-pocket costs were $657,500. T..
What is the best-case and worst-case NPV figures. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations
What is the role of the federal reserve? When and why does the federal reserve increase and decrease interest rates?
You just graduated college and want to celebrate by buying a new car. The car you like can be purchased for $35,000. Your old college clunker is worth $4,000 on a trade. The dealer is offering 0.9% per year financing on the entire purchase price. Wha..
Explain the effect of the cold spell on the price and quantity for gas using a supply/demand curve diagram. On a separate diagram explain why the price of sugar has been increasing recently. Properly label both the diagrams
Maria consumes two goods, strawberries and other goods. Because of her exquisite taste, she buys her strawberries from a particular vendor. Her preferences over other goods y and strawberries x is characterized by a utility function U(x, y) = x + y, ..
Kennywood Amusement Park spends $75,000 each year in consulting services for ride inspection and maintenance recommendations. New actuator element technology enables engineers to simulate complex computer- controlled movements in any direction.
Comparative statics in Solow's Model. Explain how the following events affect output, capital and consumption per unit of labor in the long run and along the transition according to Solow's Model:
If average total cost of producing wheat is $8 and cost of wheat is $6, illustrate what would you advise farmer to do.
Illustrate what is the total number of wells which maximizes the sum of the profits of both firms.
Without doing any math, or drawing a graph, which is bigger, compensating variation or equivalent variation for a tax?
What would happen if sellers must begin paying a tax on some good that has perfectly elastic demand but only somewhat elastic supply?
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