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Can you explain the following and why it is like this?
When demand is inelastic, price and total revenue move in the same direction
When demand is elastic, price and total revenue move in opposite directions
The head of the accounting department at a major software manufacturer has asked you to put together a pro forma statement of the company's value under several possible growth scenarios and the assumption that the company’s many divisions will remain..
Assume the price of large gulf shrimp is $18 per pound and that the price of hard shell Maine lobster tails is $36 per pound. Your professor uses ½ pound of lobster or ½ pound of shrimp with various pasta dishes. In a typical month he cooks 4 shrimp/..
a. Why is the Human Resource Management role so much more complex, and important, in the international context?
q.a markets total demand is given by p 40 - z. this market is supplied by a dominant firm and by other relatively
Since 1965 the average amount of leisure time for men has increased by 8 hours per week. that's like an extra 9 weeks of vacation per year. For women the average increase in leisure has been 6 hours per week. What does this tell us about the income e..
Which of the following statements best captures the so-called “shut down rule” for a monopolist that is able to engage in perfect price discrimination?
Why is this statement wrong: "Economists argue that lower prices will result in fewer units being supplied. However, there are exceptions to this rule. For example, in 1972, a very simple 10-digit electronic calculator sold for $120. Lower prices di..
Suppose that a business owns the land on which it factory sits and thus pays no one rent. The rental market value of the land is $200,000 per year. It pays $800,000 per year for labor and inputs and also pays $200,000 per year for insurance. If the f..
Do you think that there is a “retirement problem” in the US, meaning that individuals and families are not saving enough for retirement? What three original pieces of evidence support your observations and conclusions (journal articles, studies, spec..
Today more workers in the US are members of labor unions than any time in our history. Today labor unions are weaker than any time in the last 100 years. No major labor union has called a strike since the 1940s. Labor unions are relatively strong in ..
Assume which the United States presently both produces kumquats and imports them.
Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
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