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Rapido, the shoe company, is so popular that it has monopoly power. It's selling 20 million shoes per year, and it's highly profitable. The marginal cost of making extra shoes is quite low, and it doesn't change much if they produce more shoes. Rapido's marketing experts tell the CEO of Rapido that if it decreased prices by 20%, it would sell so many more shoes that profits would rise. If the expert is correct, at its current output, what can you infer about its marginal revenue and marginal cost?
You have won the state lottery. There are many ways in which you can receive your prize. You can either have $1 million in cash now or you can have $1.2 million that is paid out as follows: $300,000 now, $300,000 in one year's time, $300,000 in 2 yea..
What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail to the wholesale and vice versa?
Suppose that a war in other countries led to higher government spending in those countries and all else remains unchanged. Use the loanable funds theory to identify whether supply and/or demand changes in the non-warring countries.
a) Calculate the standard error of the proportion of households spending more than $100 per week on groceries (to 4 decimals).
Contrary to some contemporary writers who appear to base human rights on the decisions of governmental officials, human rights are more securely based on _____________, which can be traced back from the works of modern thinkers such as Locke & Jeffer..
Using Chebyshev's Theorem, determine the minimum percentage of women in Canada whose life expectancy is between 64 and 83.5 years.
If country desires to smooth consumption, explain how much it should borrow in period 0. Illustrate what will level of consumption and trade balance is from then on.
What are the advantages and disadvantages of giving unemployment benefits to the unemployed? Do you support this or not?
The demand for MICHTEC's products is related to the state of the economy.
The Stolper-Samuelson Theorem predicts: (a) the level of productivity in export industries (b) which factors are abundant (c) the factor income distribution effects of trade (d) which goods will be exported
Explain whether increases in gasoline taxes are effective means for raising tax revenue. Circa 1990 Colorado decided that long-haul truckers needed to pay for a larger proportion of the wear and tear on the state's highways and increased the tax on d..
Beth’s Lawn Mowing Service is a small business and operates in a perfectly competitive market. The costs function for Beth’s company is given by: total cost (TC) =0.1q2 + 10q + 50 and marginal cost (MC)=0.2q + 10, where q=the number of acres Beth cho..
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