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Individual Project Deliverable Length: 1-2 page Word documentPoints Possible: 150 Due Date: 4/3/2011 11:59:59 PM CT
Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following:
Compute the price elasticity of demand for paint and show your calculations.Decide whether the demand for paint is elastic, unitary elastic, or inelastic.Explain your reasoning and interpret your results.
What are some things that would affect changes in supply? How can quantity demanded be changed and what if the government raised the minimum wage. How would this policy effect your firm?
Optimal pricing strategy varies significantly across different market structures. The pricing guidelines in a monopoly market are relatively straightforward. Since the company is the only producer offering the product, it can mark-up the price as ..
Assume that a $1,000 bond issued in 2012 pays $100 in interest each year.What is the current yield on the bond?
During the job interview, the Vice President understood that you had received rigorous training in managerial economics, and you were able to choose some appropriate methods to predict the market movement.
Explain what happens to a market when Supply and Demand are not in equilibrium. Provide two instances from your personal experience when you observed the "disequilibria" of supply and demand in the market,
Consider an electricity market with a daytime (peak-period) inverse demand of P=160-Q, and a nighttime (off-peak) inverse demand P=80-Q, where P is the price of electricity and Q is units of electricity.
Price fixing is a per se violation of Clayton Antitrust Act. From the materials in library and the Internet, find out an example of the price fixing case or other violations of U.S. antitrust law.
Graph the supply and demand schedule for pizza using $5 through $15 as the value of p. In equilibrium, how many pizzas would be sold at what price?
Heavy rains caused the flooding of the Mississipi River and the Missouri River as well as some of their tributaries. This flood represented an important macroeconomic shock significantly damaging the aggregate capital stock and ..
Calculate the elasticity of demand and elasticity of supply at each price change in the market for financial calculators
The inflation rate over a 10 year period for an item that now costs $1000 is shown below Year 1, 10% Year 2, 0% Year 3, 10% Year 4, 0% Year 5, 10% Year 6, 0% Year 7, 10% Year 8, 0% Year 9, 10% Year 10, 0% What will be the cost at the end of year 1..
What are the primary differences between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price? How do we compensate for these differences in order to improve the "common ..
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