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Suppose that a store’s management is considering a plan in which customers who donate blood get a $20 gift card. If both store REVENUES and blood donations (i.e., number of pints donated) rise with this plan, which of the following is true? Be sure to explain your reasoning.
A. The demand for blood is price elastic.
B. The demand for blood is price inelastic.
C. The demand for the store’s products is price inelastic.
D. The demand for the store’s products is price elastic.
Offshore Petroleum's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of oil is $18 and variable costs per barrel are $10. Determine the breakeven output (in dollars). Determine the number of bar..
What would you expect to happen to the domestic money supply as R and y both increase along a stable BB curve? Explain in intuitive terms what forces would tend to bring about such a change in the money supply.
Horizontal equity can be determined by comparing the
Stephanie's Soda Fountain sells ice cream in a perfectly competitive market and is producing its profit-maximizing level of output. Suppose further that at this level of production its average total cost of producing ice cream is $3.30, average varia..
Your friend withdrew $630,315 from an account into which she had invested $350,000. If the account paid interest at 4% per year, she kept her money in the account for how many years?
Suppose there are only two people in society. The demand curve for person A for mosquito control is given by qA=$100−P. Suppose mosquito control is a nonexclusive good – that is, once it is produced, everyone benefits from it. What would be the optim..
A long-run competitive equilibrium can only be achieved in constant-cost industries. When an industry achieves a long-run competitive equilibrium, industry output will not change in the future. A long-run competitive equilibrium outcome is not econom..
Select three presidents and research their Chief of Staff and White House advisers during their tenure as President. Create a chart comparing and contrasting how these advisers influenced each president in economics, foreign affairs, domestic policy ..
q1. in a recent survey of high school students it was found that the average amount of money spent on entertainment
President Bill Clinton assigned his wife to task of developing a national health insurance plan to increase availability of medical care for poor. How would one determine opportunity cost of proposal.
q.due to the global economic slowdown we were benefiting from relatively low oil prices. but because of the instability
The traditional U.S. auto industry (the Big Three) has struggled for many years against competition from foreign-owned automobile companies. Their struggle was dramatically heightened in 2008 with the world-wide credit crunch and economic slowdown. W..
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