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Describe the production possibilities curve implications for an economy that doesn’t devote current resources towards the production of capital. Be specific in your answer.
Compute the own price elasticity of demand at a price of $4. What is the inverse demand curve for the radio station
Looking to raise profitability in perfectly competitive marketplace. How to efficiently plan production?
If average variable price are assumed to remain constant over a 10 percent increase in output, evaluate the effects of the proposed price cut on total profits.
a. How will a successful campaign that decreases the supply of drugs influence the price of drugs and the amount spent on them. What is the most effective way of decreasing the quantity of drugs consumed and decreasing the amount of drug-related cri..
Consider a 2-company Cournot model. Let ci (i=1,2) denote firm i's cost per unit of output produced, and suppose that c1 > c2 .
If the cost of a substitute product increases, which of the following is most likely to happen in the market for the product under consideration in the short run.
Explain the method that you would use in your establishment also explain why you have made this decision.
What is the income elasticity? Interpret the elasticity in a mathematic and economic context -- what does this number tell you? Is the own price elasticity consistent with economic principles? Explain.
Explain, illustrating with graphs as necessary-be sure that the shape of your supply and demand curves make economic sense.
Suppose an economy only produces single consumption well. Consider permanent upward shift of production function. Graphically describe the effects on each of following:
"Anjali and Sanu are married, and Sanu is the breadwinner. Anjali provides 4 non-market hours of service daily, and her productivity at home is $15. Sanu's earnings are $20/hour, and his productivity at home is $10/hour. Draw his daily budget constra..
Describe the benefits and drawbacks of dynamic pricing for this particular company.
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