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Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket. Other things being equal, the data imply that the elasticity of demand for movie tickets is: A. elastic, so the increase in price caused total revenue to rise. B. elastic, so the increase in price caused total revenue to fall. C. inelastic, so the increase in price caused total revenue to rise. D. inelastic, so the increase in price caused total revenue to fall.
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.
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
What is the total product function for Dimex? The average product function? The marginal product function?
Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia.Cypress River’s sales vary seasonally.
Societies are frequently concerned about whether police are vigilant in carrying out their responsibilities. Many societies have experimented with incentive compensation for police.
Health care. This, of course, is a huge economic issue now with the attempted startup of Obama care. In your analysis here do not focus on the software issues. Those are technical problems and, granted, the system failed two weeks before releas..
Using the coeffficients found in the regression estimate, enter a formula based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2million to $9million a year.
Consider the market for bicycles. The Total Cost function is given by TC = 100 + 10q + q2 and there are 20 firms. The demand function is given by P = 120 - q. However, there are significant externalities to the production of bicycles. The governme..
Select a product you have purchased in the past month from a clothing or shoe store. Explain how each of the four factors contributed to the elasticity of the good.
All firms in the industry have identical technology and face the same cost curve: C(Q) = 500 + 10Q + 0.5Q2 . There are 10 firms in the industry.
A copper mining operation discharges waste products into a river and causes higher costs and discomfort to downstream users of the water.
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