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TLC Lawn Care, Inc. provides fertilizer and weed control services to residential customers. Its seasonal services package, regularly priced at $250, includes several chemical spray treatments. As part of an effort to expand its customer base, TLC offered $50 off its regular price to customers in Lahania area. Customer response was enthusiastic, with sales rising to 5,750 units from the 3,250 units sold in the same period the previous month
1. Calculate price elasticity of demand for TLC service. p =?
2. Calculate the optimal price for TLC service if marginal cost is $135. P =?
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 by using 2004 as the base year. By what percent did prices increase?
In your discussion, comprise the reason for the lawsuit, the outcome of the trial and how this lawsuit affected Microsoft and consumers.
Adopting the main features of the neoclassical supply of labour, elucidate how these 2 factors may be related.
Assume the elasticity of demand for chewing tobacco is .60 and the elasticity of supply is 2.30. Suppose an anit-chewing tobacco campaign decreases the demand for chewing tobacco by 18%. The equilibrium price of chewing tobacco will decrease by ..
Steve plans to take the contract that provides him with the highest net present value. At what discount rate would he be indifferent between the two contracts.
Use a production possibility frontier to illustrate the probable results of your fiscal policy. By how much did consumption change? By how much did savings change?
If you are the chief economist of a country experiencing high unemployment and flat GDP, what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
Analyze the modern notion of microfoundations with Marx's 'real foundation' for the analysis of economic activity.
A typical university football programs requires alumni to join one of several booster club each club gets seats in different parts of the stadium before the person can buy season tickets. Ilustrtate what has this got to do with consumer surplus.
Elucidate implicit assumptions would an researcher make regarding price elasticity of a magazine.
Illustrate rate of growth in fuel costs justifies going ahead with the insulation plan? Make sure that the rate of growth and the discount rate are aligned in terms of periodss.
Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
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