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The older yourt factory has reduced the price of its popular Mmmm Sundae from $2.25 to$1.75. As a result the firm's daily sales of these sundaes have increased from 1,500/day to 1800/day. Compute the arc price elasticity of demand over this price and consumption quantity range.
The income elasticity of demand for clothing is estimated at +0.5. What would you expect to happen to clothing revenues when incomes are rising When incomes are falling Is the effect stronger or weaker than the movie industry results
The InterCell Company wants to participate in the upcoming World Fair. To participate, the firm needs to spend $1 million in year zero to develop a showcase. The showcase will produce a cash flow of $2.5 million at the end of year one.
A firm is trying to make a decision to buy or lease a light-truck. The light-truck can be purchased for $35,000 and your firm as a marginal alternative rate of return equal to 7%. The dealer will lease the same truck for five years at $10,000 per ..
c) Compute the elasticity of supply with respect to technology. d) Compute the elasticity of supply with respect to wage rate. e) Based on the elasticity of supply with respect to wages, what would happen to supply if the average wage increased fro..
This utility function implies that Shelly's marginal utility of leisure is C - 200 and her marginal utility of consumption is L - 80. There are 168 hours in the week available to split between work and leisure. Shelly earns $5 per hour after taxes..
Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500. Calculate and interpret the z-score for a sales associate who makes $36000. Suppose that the distribution of annual sa..
A retirement income of $500,000 a year does not have as much buying power in the future as it does today. Suppose this retirement income is 40 years in the future and the inflation is 2% each year.
A local car dealer is advertising a 24 month lease of a sport utility vehicle for 520 payable at the beginning of each month. the lease requires a 2500 down payment plus a 500 refundable security deposit that is refunded at the end of the 24 month..
Suppose two firms 1 and 2 compete in quantities and face a demand curve p = 100 - q. Suppose firm 1 has a constant marginal cost of 10 while firm 2 has a constant marginal cost of 40. Suppose they produce quantities simultaneously. a. Find q..
A student wants to buy a car. The car's sticker price is $24,000. The student cannot afford the dealer's terms - 12% interest for 60 months, because the student only has a $500 monthly disposable income. What is the highest rate the studen..
According to the following economic indicators, estimate the outlook of this fictitious economy. Although I know what these indicators mean,
You are the manager of a firm that receives revenues of $30,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X..
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