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If demand is perfectly inelastic (equal to zero), can you really maximize Total Revenue? Seems to me that it would continnually rise as P increases since demand remains unchanged?
demand p30-2qsupply p4qequilibrium priceequilibrium quantityown price elasticity of demand equlilbriumconsumer
Sam bought a car for $40,000 at “0” percent for 60 months. The financing was done through the financial arm of the car company. If he had paid cash for the car he could have gotten the car for $34,000. Determine the interest rate that he is paying on..
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries. What weakness does this measure have.
Which of the following does NOT determine the long-run level of real GDP?
A. Write the total revenue function of the firm. B. Suppose the cost of producing commodity A is cA=10qA^2. Please write the marginal cost of commodity A (mcA).
Suppose two firms (Firm 1 and Firm 2) are competing against each other in a (duopoly) market. Suppose further that the demand is given by the equation P= 700-30(q1+q2), where P is the price of the good, q1 is the quantity sold by firm 1, and q2 is th..
Search Engines today use Search Engine Optimization and Pay per click advertising. Explain the positives and the negatives for using each Search engine optimization or pay per clicking? Explain which one that you would choose or would you use both in..
Why is it that when you have a trade deficit saving is less than investment. S-I=NX. A trade deficit just means you bought more products from foreign sellers than you sold to them. So is a trade deficit even a bad thing? And what does it have to do w..
Suppose the market for oranges initially has supply described by P=10+Q (with price measured in dollars per bag and quantity measured in millions of bags) and demand described by P=20 - Q. Suppose a snow storm causes the supply curve to shift to the ..
What will happen to unemployment and the price level in each of the following situations?
The president of the Fed announces in a press conference that he will fight the higher inflation rate with a new anti-inflation program. Using the supply-demand framework in bonds market, predict what will happen to interest rates?
How do the following activities contribute to the US Economy? Explain your answers clearly and be precise.
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