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Calculating Optimal Price Given Price Elasticity of Demand.
Given the price elasticity of demand for your product is 0.85, your marginal cost is 50 when you produce 1000 units, use the Lerner Index to calculate your price mark-up. What is your optimal price if you produce 1000 units?
Suppose there are only two firms. It is better to be a quantity leader in a Stackelberg model than a member of a cartel in a one shot market. Use a graph if you want.
In the country of Wiknam, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 14 percent per year, and the nominal interest rate is 11 percent. What is the real interest rate?
Using the dynamic augmented Phillip's Curve model (Y/PC/MR), demonstrate the effects of the Following changes. Show both the short-run and long-run effects.
Why would a nation such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?
What takes place to the equilibrium price and quantity of ice cream in response to each of the following? Describe your answers.
Explain the most important economic, political or social issue facing the United States.
You're the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees.
In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs.
How do you explain and predict hospital behaviors if using the utility-maximizing
Assume that an engineer is deciding either not to move to northern Virginia or remain at his current job in Milwaukee.
Draw a bowed-out production possibilities curve (PPC or PPF) with an aggregate measure of medical services, Q, on the horizontal axis and an aggregate measure of all other goods (and services), Z, on the vertical axis.
Analyze internal as well as external factors impact organizational behavior in the military or another agency.
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