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What type of institutions must have reduced their fee to attract students? Is it possible that the converted IIMs had to reduce fee? Would there be a difference between the motivation of fee reduction between an IIM and a relatively lesser known MBA school?
A study found that lower airfares led some people to substitute flying for driving to their vacation destinations. This reduced the demand for car travel and led to reduced traffic fatalities, since air travel is safer per passenger mile than car tra..
Goat meat producers are struggling to keep up with demand as consumers turn to alternative meats, and a dwindling supply due to the drought sees prices jump to
A movie theatre has a cost function which entails the rent of the commercial building of $50 per day (fixed cost) and a marginal cost of $5 per viewer. Assume now that the movie theatre can give price discounts to students. Explain the concept of pri..
What must a person who is claiming they were harassed in the workplace allege in order to first state a case with the EEOC for each of the following types of harassment. I. Sexual harassment – quid pro quo II. Sexual harassment – hostile environment ..
The demand for watches can be described by q = 1, 000pI,where I is per capita income. Suppose I = $8, 000. At p = $45, what is the price elasticity of demand?
The Gentle Warming Company is purchasing a new cooling system. To pay for the system, the company agrees to make 12 installment payments of $8186 per year, beginning at the end of year 1. How much should the company set aside today to pay for the coo..
Explain the concepts of income effect andsubstitution effect? When would the individual labour supply curve bendbackwards (explain using diagram)? What would be the shape of thelabour supply curve if the income effect was always equal to thesubstitut..
If a firm employed 4 workers at the same output level (10 designs per week), would the MRTS be higher or lower than it was at 10 workers
Use the aggregate expenditure model developed in this chapter to explain the following statements: Coming amid continued turmoil in the financial and credit markets, the report sent stocks lower, with the Dow Jones Industrial Average falling 146.70 p..
A monopolist with a straight-line demand curve finds that it can sell one unit at $7 each or seven units at $1 each. Its marginal cost is constant at $6 per unit.
Give a real example in history when a market for a product or service was affected by a change in each of the following: Income of buyers Price of a related good, either a substitute or compliment Number of buyers Consumer preferences and information..
Mrs. Robinson has a key witness on auto safety that the judge believes is not qualified as an expert. The judge examines the witness while the jury is in the jury room and disqualifies him from testifying. The jury does not get to hear this witness. ..
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