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A demand function is given: Q=210-3p. P=35. Find 3 things: The quantity that consumers will purchase at this price, The total revenue, and last, at this price and quantity, find the price elasticity of demand. Use point slope method to find this elasticity.
Rivalry is especial destructive to probability if:
Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?
One point made is that most demand curves are downward sloping. Can you think of any situation where an individual's demand curve for a product is upward sloping.
Inflation during the 1970s was much higher than most people had expected when the decade began. How did this affect home-owners who obtained fixed-rate mortgages during the 1960's? How did it affect the banks that lent the money?
The increase in competition in the United States between 1958 and 1988 was not result of
why is it difficult for the government to control and regulate monopolistic enterprises? Give a minimum of two real-world examples from recent history
explain how many car companies will buy a new car assembly machine. Interest payments are made once a year.
Producer and consumer surpluses are measures of:
for what interest rate will the maximum number of housing starts be achieved?
Which of the following is a key element of the Cournot model?
What would be ultimate impact on the equilibrium price also quantity in the market for oak tables if the price of maple tables.
Suppose that $2,000 is placed in a bank account at the end of each quarter over the next 15 years with the first deposit made 3 month from today. What is the future worth at the end of 15 years when the interest rate is 6% per year compounded quarter..
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