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The South Beach Café recently reduced appetizer prices from $10 to $8 for afternoon “early bird” customers and enjoyed a resulting increase in sales from 75 to 125 orders per day. Beverage sales also increased from 400 to 550 units per day.
Calculate the price elasticity of demand for appetizers. Is demand for appetizers elastic or inelastic?
Calculate the cross price elasticity of demand between beverage sales and appetizer prices. What does this tell us about the relationship between appetizers and beverages?
Holding all else equal, would you expect an additional appetizer price decrease to cause both appetizer and beverage revenues to rise? Explain.
According to comparative advantage, in which industries would you recommend the country to specialize. Has the country specialized in your suggested industries.
In times of a struggling economic situation, determine the key steps that the Federal Reserve should take to help stabilize the economy. Next, explain how your proposed steps will affect money supply, interest rates, inflation rate, aggregate demand,..
Parts of research paper about Starbucks that summarizes first It focus on a domestic (American) operations, and second with its global issues.
An outright purchase of $20,000 now (a lump sum payment) can be traded for 24 equal payments of $941.47 per month, starting one month from now. What is the monthly interest rate that establishes equivalence between these two payment plans?
Larry Bush, was on his second audit job on the East Coast with a new client called FSK. He was looking through the past four years of financials and doing a few ratios when he noticed something odd. Bush discovered that the company was clearing the r..
Illustrate what is the producer's profit-maximizing(loss-minimizing) output level. Illustrate what are the firm's economic profits.
Answer the following questions: Does you country have a fixed, floating, or managed exchange? Does your country control its own currency (is it and issuer or just a user of currency)? How exchange rate of the changed in the past three months? In the ..
A price-weighted index consists of stocks A, B, and C which are priced at $38, $21, and $26 a share, respectively. The current index divisor is 2.7. What will the new index divisor be if stock B undergoes a 3-for-1 stock split?
Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing, ..
Technology, including travel-driven technology, has made the world smaller. It has enabled the rapid exchange of ideas and information, further shrinking the world. This has also led to more porous borders with significant difficulty in ensuring safe..
The average quality of labor has increased, partly because the demand for education and health care are:
Alice runs a restaurant and it is only open on Wednesdays and Saturdays. Her total cost is TC=10+q2 where q is number of meals served per day. Her restaurant is a price taker. A meal is sold at $12 on Wednesday and $20 on Saturday. Get her average c..
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