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Q1. Gerry receives a raise from $10 per hour to $12.50 per hour. After the raise, Gerry increase the number of channels in her cable subscription from 50 to 75,.What is Gerry's income elasticity of cable demanded?
Q2. Suppose we only use labor in a production run. How do we determine the optimal level of labor input in the short run? In other words what condition must be met?
Q3. for the production possibilities curve involving working vs. outsourcing errands which variable would be on the vertical axis and which on the horizontal axis?
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
Under oligopoly if one firm in an industry significantly increases advertising expenditures in order to capture a greater market share, it is most likely that other firms in that industry.
Which of the variables above is NOT statistically significant at the 0.05 level.
Assume that the firms form a cartel to maximize total industry profits. Determine the optimum output as well as selling cost for each firm.
Assume that private schools want to maximize profits and that the market for private schools is perfectly competitive.
Nevertheless your total unit sales have increased over this period. Assuming rational buyers and no deceptive advertising, how can you account for this.
They found that getting larger was painful it involved a lot of new administrative infrastructure to get everything organized
Show the effect of an increase in the price that the government charges for electricity.
The factory operation creates smoke that affects nearby homeowners, causing respiratory ailments and similar problems.
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
What factors determine the intensity of rivalry in an industry. Is the intensity of rivalry in the PC industry high or low.
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
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