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Would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate level (e.g., all 4-year colleges and universities)? Why?Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right? How important were price considerations in making your college decision? Would a change of a few thousand dollars have mattered?Would you expect the price elasticity of demand to be higher for financial-aid students or for non-aid students? Why?How does a student's income elasticity affect the demand for higher education at College?
What is your expected rate of return over the one-month holding period?
Compute total revenues, total expenses, and profits both before and during the strike and Who was better positioned to endure the strike?
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
Suppose you manage an agency that provides Meals on Wheels to infirm elderly residents in the county. The agency operates three kitchens. Each kitchen is producing one-third of the total meals every day.
Find consumer'sA utility maximizing combination of Qax and Qay. At this point compute the level of utility enjoyed by consumer A.
suppose that lin jun subscribes to the 88 yuan per month plan. (i) how much calling time would she consume? (ii) what would be her total benefit? (iii) what would be her buyer surplus (benefit less charges)?
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
At present, U.S. railroads own about 595,000 railcars and lease an additional 717,000. The demand for rail freight services has increased markedly in recent years as the booming ethanol industry has sought rail transport of raw ingredients, by-produc..
What is the maximum quantity of quarks it can produce and what is the opportunity cost of producing the first 600 quarks?
If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the Federal minimum wage?
what are these prices? b) How much output is sold at these prices and what is the profit in each market? c) Based on your answer in part a, justify why would the firm charge same or different prices.
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