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There are 4 factors that influence the price elasticity of demand:The availability of substitutesThe specific nature of the goodThe part of income spent on the goodThe time consumers have to buy the goodIn a 2-4 paragraph Discussion Board post, discuss the following:Choose a product you have purchased in the past month from a clothing or shoe store.Describe how each of the 4 factors contributed to the elasticity of the good.Is the product considered elastic, inelastic, or unitary elastic?In a few sentences, what effect does the current supply and current demand have on this product?
The market demand curve for the industry is D(P) = 240- P/2. At the equilibrium market price, each firm produces 20 units. what is the equilibrium market price, and how many firms are in this industry.
All firms in the industry have identical technology and face the same cost curve: C(Q) = 500 + 10Q + 0.5Q2 . There are 10 firms in the industry.
What is the present value of your wealth at the beginning of your life, what is the largest constant consumption stream you can afford and what borrowing/lending strategy you will use to accomplish b.
Compute the pre-merger HHI measures for each market. How would a merger affect the market's HHI?
Many demographers predict that the United States will have zero population in the 21st century in contrast to average population growth of about 1 percent per year in the 20th century. Use the Solow model to forecast the effect.
Calculate the net present value and benefit-cost ratio for four different discount rates
If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $3 per unit, how many bouquets per month should she sell in the short r..
Two suspects are arrested and charged with a crime. The police lack sufficient evidence to convict the suspects, unless at least one confesses. The police hold the suspects in separate cells and explain the consequences that will follow from the a..
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
government introduced an earned income tax credit. This reform has been considered controversial. a. Analyse the likely effects of the tax credit. b. What are the arguments in favour of the tax credit
Determine which of the following is most likely to indicate statistically significant regression coefficient? Assume the price elasticity of the supply of cheese is 0.80. If the price of cheese rises by .20 percent,
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