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suppose that, during the past year, the price of a laptop computer rose from $2,300 to $2,700 per laptop. During the same time period, consumer sales decreased from 600,000 to 500,000 laptops. Calculate the elasticity of demand between these two points by following the steps shown next. After each step, select the appropriate answers in the table. 1). Original Quantity 2). New Quantity 3). Average Quantity 4). Change in Quantity 5). Percentage change in Quantity 6). Original price 7). New Price 8). Average Price 9). Change in Price 10). Percentage Change in Price. The elasticity of demand for laptop computer is about?
In a population Y=100 and Y=43. Use the central limit theorem to answer the following questions a. In a random sample of size n=100, find P(Y or = 98).
When a recession is over, do people start to immediately feel affects of an efficient economy? Use the experience of most recent recession to justify your answer.
(a) Calculate the equilibrium quantity and price for peaches. (b) Calculate the point price elasticity of demand and point income elasticity for peaches at the equilibrium. Also calculate the point cross price elasticity between peaches and aprico..
You borrowed $12,000 to buy a new car from a bank at an interest rate of 9% compounded monthly. This loan will be repaid in 48 equal monthly installments over four years. Immediately after the 20 th payment, you desire to pay the remainder of the ..
given the following variables in the open economy aggregate expenditure model, autonomus consumption=200, autonomus investment=200, government spending=100, export spending=100, taxes=0, marginal propensity to consume=0.8
Estimate simple linear regression models for both the raw data and the logs, estimating both the intercept and the slope.
UPS Freight plans to spend $100 million on new long-haul tractor-trailers. Some of these vehicles will include a new shelving design with adjustable shelves to transport irregularly sized freight that requires special handling during loading and u..
Suppose that BMW can produce any quantity of cars at a constant marginal cost equal to $20,000 and a fixed cost of $10 billion. You are asked to advise the CEO as to what prices and quantities BMW should set for sales in Europe and in the United S..
what are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day. Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept.
Suppose there are four oil producers in the crude oil market, A, B , C and D. The marginal cost of A is $10. The marginal cost of B is $12. The marginal cost of C is 13. The marginal cost of D is $15. Note that in all three cas..
1. Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a. 2. Explain the difference ..
Consider a project that requires an initial investment with the following patterns of cash flow. n 0 1 2 3 4 5 Receipt $0 500 500 500 500 500 Disbursement $1000 100 140 180 220 260a) Compute the net cash flow and show it in a table or diagram.
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