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Given a demand curve for blueberries: Qd = 5,000 - 2,000P, graph the demand curve making sure to label the horizontal axis in 1,000 unit increments (1K, 2K, 3K, etc.) Calculate the total revenue (TR) for each of the 1,000 unit increments on your x-axis and plot a TR curve directly below your demand curve so that the horizontal axes match up. This is called stacking the graphs and is a common technique in economics. Using the midpoint formula (arc elasticity), calculate the price elasticity of demand between each quantity interval on your demand curve (example from 0 to 1,000 units, then from 1,000 to 2,000 units and so on.) Show your calculations. On both of your graphs (demand & TR) provide labels that correspond to type of elasticity you calculated (elastic, unitary elastic or inelastic).
Define unemployment rate and labor force participation rate and understand how they are computed. Identify the three types of unemployment
Draw the AC function on the same graph. What is the firm's long-run supply curve? That is for every price p, how much will the firm produce in the long-run? Which curves are relevant now?
Discuss the problem of double marginalization. What is it? What causes it? How is it mitigated by a vertical merger?
shoplifting costs retail businesses a great deal of money every year. in spite of this the historical evidence suggests
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
Summarize the data displayed in your table. Your audience is a business executive or policy maker who wants to know about patterns or relationships.
What is the Mission of your company of choice? A mission statement is likely to include such things as the scope of operations (worldwide), customers, markets, philosophy, vision for future, technology, concern for survival.
Specific Analysis Problems Identified, determine a piece of software available that the company could use in analyzing the problem.
Influence of environmental politics on economic policy and A statement regarding to what extent government should or should not intervene based on your reconciliation.
1. if the economy is to have significant built-in stability then when real gdp increases the tax revenues shoulda. fall
What is the velocity of money in Tropicia? In 2006 suppose the money supply increases by 50% and real GDP has increased by $400. Given that the velocity of money is the same as in 2005, what is the new aggregate price level in Tropicia in 2006? Wha..
Kim and Pat underwrite insurance. Each underwrites 50 accounts per month. Each account takes four hours to underwrite. The value of their time is $40 per hour.
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