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The demand for Wanderlust Travel Services (X) is estimated to be:
QX = 22,000 - 2.5PX + 4PY - M + 1.5AX
where AX represents the amount of advertising spent on X, M is income per capita, and the other variables have their usual interpretations.
Suppose that the price of good X is $450, good Y sells for $40, the company utilizes 3000 units of advertising, and consumer income is $20,000.
a. Calculate the elasticity of demand for good X with respect to the price of X, the price of Y, income, and advertising.
c. Calculate consumer surplus at the profit-maximizing price if the marginal cost is $264.
What is smallest integer price that would make a firm willing to produce a positive amount. Suppose that Dent Carr's long-run total cost of repairing s cars per week.
If Farmia opens trade with a country with identical tastes, what will happen in short run to: Farmia's production of wheat and coffee. What information or theorem did you use as basis for you answer.
Three estimators at Tech Engineering have come up with the estimates of cash flows as shown in the table below for a project with a life of 10 years. Compute the expected NPW at 20%.
Provide healthcare examples of the following market failure:
Illustrate what implications would increasing worker protections have upon the ability of American companies to compete globally.
What happens when the price level rises? Which of the following best describes what happens when the price level rises? If a government started with a deficit and moved to a surplus, which of the following best describes the effects of these changes?
Holding everything else constant, if interest rates increase:
In the Solow growth model, human capital will increase if (choose the best answer):
q. if the price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm
Outline the elements of an IMF stabilization package. Provide example of a country- one where the package has not been successful in heloing with the balance of payment deficit. Explain in detail why the package failed in that country. Be sure to cit..
Indicate whether each of the following is counted in this year’s GDP: a. you bought a new Wii at GameStop last year and resold it on eBay this year. b. You purchase an “Investing for Dummies” book at Barnes and Noble. c. You purchase a historic home ..
Explain why the reduction in employment would be less than 5 percent in the latter case. In light of the short-run elasticity of demand for migrant workers, how easy do you think it would be for the industrial farms to replace the workers’ efforts by..
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