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1. Last week, Cal sold an average of 4,000 gallons per day at an average price of $2.658 per gallon. This week, he raised the average price to $2.758 per gallon. His station is now selling an average of 3,600 gallons per day. Fixed costs of operating the gas station are $438 per day.What is the price elasticity of demand?
Discuss the concepts of marginal product and marginal cost. Also discuss the importance of trends in these and other economic measures and how time-series analysis (trend analysis) can be used or misused to make important management decisions
Describe three situations in which economic behavior could affect its physical context and three ways in which economic behavior could affect its social context. How might these influences that the economy exerts on its contexts result in changing ho..
An expansionary monetary policy is less likely to be effective if: Assume we have the following economic data: Unemployment rate = 8% Inflation rate = 2% Annual labor force growth rate = 1% Annual increase in worker productivity = 1% Using the above ..
What are the Economic structure, indicators and risk, Financial structure, indicators and risk, Political structure and risk, a Recent history which impacts current conditions and risks Geography, natural resources and existing industries that impact..
Economic Growth Rate - In your response post, your comment is not to assess another student's work but to bring up additional points or thoughts related to their post.
What are the macroeconomic worldviews for david ricardo, karl marx, and john stuart mill?
Assuming MACRS depreciation and an income tax rate of 50%, determine the investor's after-tax rate of return on this investment.
A machine is purchased for $56,000 with a useful life of 5 years, after which, it is estimated to be worth $5,000. The machine will be operating 2,500 hours per year with annual maintenance and operating costs of $6,000. Using an interest rate of ..
You can ask anyone the question. What would you rather have? Inflation? Or being unemployed? The resounding answer would be from everyone that they would rather be employed with a higher inflation than no job and a higher inflation rate.
If marginal product is greater than average product, average product is falling. Marginal cost is less than average variable cost when average variable cost is falling. If the marginal cost curve is below the average variable cost curve, then margina..
Which of the following correctly summarizes the net effect of the listed bank transactions?
Using the IS-LM model, examine what happens in the short run to interest rate, income, consumption, and investment under the following. Support your answer with the appropriate logic and graphs
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