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1. Two partners who owns IT Business Solutions, a company supplying specialist software, operate out of an office in Fourways, Johannesburg but have discovered a vacant office building close to Sandton City. One of the partners favours moving to the new location because she believes the additional business gained by moving will exceed the higher rent plus the cost of making the move. The other partner disagree. She argues: " We have already paid for office stationary, business cards and signage that cannot be moved or sold. We have spent so much on our current office that we can't afford to waste this money by moving now." The partners ask you for your advice. Which partner is correct? How would you explain your reasons to them?
Find Total Revenue or profit
Write down the household's budget constraints for period 1 and 2 and identify the current account.
The demand for personal computers can be characterized by following point elasticity = -5, cross-price elasticity with software = -4, and income elasticity = 2.5. Indicate whether each of following statements is true or false, and describe your an..
Evaluate price elasticity of demand
The marketing team for a restaurant wants to estimate the price elasticity of demand coefficient for its steak dinner. It priced its dinner at different price points in local restaurants to see how many would be sold at different prices.
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
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Current economic theory and their application or lack of application to contemporary economic problems
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Early this year, thousands of Americans flocked to Apple's outlets to purchase iPad 2 sold by iconic brand. Long queues snaked outside many of Apple's outlets dotted over the states.
The equilibrium price for physiotherapy visits is $30 and the quantity utilized is 150 visits as a result of the demand and supply conditions in this diagram.
What key economic concepts underlie the employ of discount coupons by businesses?
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