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Daniel's consumption of pizzas drops from 6 to 4 per week when the price rises from $9 to $11. What is the price elasticity of deman for pizza
Your firm is one of 100 identical firms operating in the short run in a perfectly competitive market. Your total cost function (short run and long run) is C = 800 + 25 q + 0.5 q2, and your marginal cost function is MC = 25 + q. The (short run and lon..
Draw a new set of graphs that illustrate long-run equilibrium in a constant-cost competitive industry. Use two graphs, one for the market and another for a representative firm. a. Show and discuss the effect an increase in market demand has on the re..
One month ago, they added five workers, and productivity also increased by 50,000 pages per day. Copiers cost about twice as much as workers. Would you recommend they buy another copier or hire another worker?
Discuss the impact of major accounting/financial scandals on investors’ asset preferences. In your opinion how do the scandals affect foreign markets? Discuss two macro variables that affect changes in interest rates/or markets. If you watch these va..
What is the margin of error? Assume both population standard deviations are equal.
Consider the following annual data on approximate cigarette sales and cigarette producer advertising expenditures over the 1986-1990 period: Discussing the direction of the relationship between the two variables and ii) discussing whether or not the ..
Decrease DEMAND (finding alternatives to oil). Graph how these two changes will bring about lower gas prices. Which school of thought do you subscribe to?
If inflation averages 4 percent per year and your return on an investment, based on then-current dollars (market rate) is 10.5 percent, what is your real return on investment?
1. Explain the impact that a host or hostess has on a customer's impression of a restaurant. 2. Can a server be too attentive to their patrons? Explain.
Demand for a new drug that controls ulcers is given by equation Q = 150 - 3P (Q is bottles of medicine and P is the price per bottle in dollars). Using inverse demand (because P is graphed on the vertical axis), what is the slope of the demand curve?
Lenny was a resident of Maine and Milly was a resident of Arizona. Both went on vacation to Nevada. When on the golf course, Lenny drove the golf car recklessly, hit Milly, breaking her back. Milly suffered damages of $84,000. Indicate which states ..
Assume a given country two industries X and Y, and in autarky X is produced by a monopolist (with constant returns to scale). Using a graph, explain the precompetitive and comparative advantage gains from trade.
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