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Suppose that the price elasticity of demand a clinic is -2.5.
a. Calculate the percentage change in the number of visits if the clinic increases its price per unit by 15%. Show ALL your work.
b. Based on the information given, would you recommend a price increase if the objective is to increase this clinic's total revenue? CAREFULLY EXPLAIN your answer.
Per capita income of King's Landing is $25,000 with a growth rate of 0%. How long until per capita income is the same in both locations?
This question is based on Economics. What is a perfect market and what is an imperfect markets. Please make a comparison.
Suppose that the demand for labor is summarized by the equation: wD = 40 – 10 LD. The equilibrium wage is ___ and the equilibrium labor force is ____:
Compare the tariff outcome to a quota set at the same level of imports. Which results in higher welfare? Why?
To pay for college you took out 1000 gov loan that makes you pay $126 per year for 25 years. However, you don’t make payments till graduation which is two years from now. Why is the YTM necessarily less than 12% (this is the yield to maturity on a no..
Suppose from your randomized experiment you observed two data points about demand for healthcare:
Institutions that function to connect one individual's savings another's investment decisions is in summation called the. Suppose the market interest rate for loanable funds is above the equilibrium level, this means the quantity of loanable funds: B..
What is the private value of innovation to the innovating firm? What if the innovation were drastic so that the innovating firm exists as a monopoly after the innovation?
describe which curve(s) shifted, explain why it shifted (shift factor), in which direction (right or left), and what is the resulting equilibrium price and quantity in comparison to the beginning price and quantity. The Organization for Petroleum Exp..
All else equal, in an open economy, how would an increase in the marginal propensity to import (MPI) affect the government purchases multiplier?
Assume wage negotiations are done and agreed based on the CPI. Briefly explain what happens to employers and employees when the CPI is downwardly biased
Suppose a firm's production function is given by Q = L1/2*K1/2. The Marginal Product of Labor and the Marginal Product of Capital are given by: MPL = (K^1/2)/(2
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