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Given the current economic slowdown in the country and region at large, a well know company has been experiencing low sales of one of its products and consequently the marketing manager has advised top management that it should consider reducing the price of its product by 8%. Market research conducted by the marketing team shows that the price elasticity of demand for this product is -0.5. Given your economic knowledge, is the advice given by the marketing manager appropriate? Explain your intuition.
Suppose that the nominal interest rate on three-month Treasury bills is 8 percent in the U.S. and 6 percent in the U.K., and the rate of inflation is 10 percent in the U.S. and 4 percent in the U.K. a. What is the real interest rate in each nation? b..
Suppose Marcy's Medical Machines operates 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 is $2500, average variable cost is $2300, and..
If a market is perfectly competitive and is in long-run equilibrium, which of the following conditions does not hold?
Discuss how successful airlines control the use of discount fares by imposing and enforcing appropriate conditions on these fares, and how they utilize state-of-the art revenue management systems. Provide an example(s).
Assume that the federal government has decided to impose a tax on handguns. The market for handguns is currently at equilibrium with the price per gun being $200 and the quantity exchanged being 40,000 guns per month. Use a diagram to indicate the si..
Suppose that all wages also prices in an economy are indexed to increase. Explain there can still be an increase tax.
According to economic growth theory, the level of the GDP and the rate of the real GDP growth rate have different economic implications about economic well-being of a country. If you are given the options, would you rather live in a nation with a hig..
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year
A simultaneous rise in Aggregate demand and fall and short run aggregate supply will definitely? A chage in labor productivity shifts the ______ curve and a change in the exchange rate shifts the ______ curve.
The burden of a tax imposed on a good falls at least partially on consumers if:
What is the total value of Sam's miscellaneous itemized deductions?
Which set of actions maximizes the total payoff of Nikita and Margaret? Is it likely that they will choose the payoff-maximizing actions without some communication? Why or why not?
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