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Q1. Would elasticity be constant for the demand curve represented by the equation Q=5000-0.5p?why
Q2. If the cost function for John's Shoe Repair is C (q)=100+10q-q^2+(1/3)q^3, Illustrate what is the firm's marginal cost function? Illustrate what is its profit-maximizing condition if the market price is p? Illustrate what is it's provide curve?
Q3. The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided to cut the tuition by 5 percent for all students. As a result, enrollment increased by 15%. Illustrate what happened all else constant, to your institution's revenues? Why?
Why might bad cars drive good cars out of the used-car market. Give at least two possible solutions to resolve this paradox.
Racial also Ethnic Groups defines culture of poverty as a way of life which involves no future planning, no enduring commitment to marriage
One feature of a financial crisis is that there is a high demand for safe assets and a low demand for risky assets.
Describe the benefits and risks entailed with an experimental approach to regression analysis.
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
Explain how many ships should be produced month if world chip costs are $62 per chips. Forecast the HSE's profit at this output level.
Compute the price elasticity of demand for TV Plasmas. Explain how could we classify the demand for TV Plasmas.
Consider a product market for a normal good. Suppose consumers' income increases. Explain what will happen to labor demand for firms in that market.
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit?
By using calculus show that the production function exhibits diminishing returns to labor.
Select one market segment, and describe in one or two paragraphs what features the cell phone might have in order to be attractive to this segment.
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