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Demand for a softback managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.
a. Compute the point price elasticity of demand at P= $30.
b. If the objective is to increase total revenue, should the price be increased or decreased? Explain.
c. Compute the arc price elasticity for a price decrease from $30 tp $20.
d. Compute the arc price elasticity for a price decrease from $20 to $15.
Which of explanatory variables in regression are statistically significant, Elucidate. How much of total variation in pie sales does regression model elucidate.
A project manager must consider several components when overseeing the planning process of aggregate operationsspecifically, whether such components are factors that are internal or external to the organization. Which of the following factors would..
Consider the bathtub model of unemployment. Let E= 45 million and U= 15 million. If in the next month, the job separation rate is equal to 0.04 and the job finding rate is 0.3, what is the number of unemployed individuals next month?
How does competition relate to communism, socialism, fascism, capitalism and monarchy? 2. To what extent does capitalism include “crony capitalism” and why? 3. What roles are played by: a. Competition?
Assume a one-time decrease in population, possibly caused by an onset of disease or a sudden out-migration.
q1. the average 15- year- old purchases 12 cds and 15 cheese pizzas in a typical year. if cheese pizzas are poorer
Since 1900 in the US, family income has greatly increased (even after accounting for inflation), but the average number of children per family has decreased. Illustrate each of the following possibilities using budget constraints and indifference cur..
Elucidate what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities.
When we depend on imports to provide necessary products (food, oil etc.) we make ourselves vulnerable to the will of other countries. If they decided to stop selling to us then our economy or society could be critically hurt. In order to develop new ..
Development of a new computer network requires $1,007,324 as first costs and $45,051 per year as operating costs. It will be in operation for the next 5 years bringing $542,338 as annual revenue over this period. It is also known that MARR is 15%, an..
With a Swedish Kroner, the likelihood of getting Heads when it is spun on edge is 0.2. If X is the random variable where X(H)=1, X(T) = -1, find the expected value E(X), the variance Var(X), and express X in its standard form. Consider two fair dice,..
Explain and distinguish between professionalism and professionalization from the Bayles reading, and provide one example of each. Be sure to apply Bayles’s 3 central features of the professions appropriately in your answer.
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