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Identify and explain three of the factors that help determine how elastic demand for a particular good is. Discuss how the factors you select would help explain the price elasticity of demand for a sweater from Banana Republic?
Flavor Flav has released a new exercise DVD for his loyal fans. If he charges $20 he expects to sell 10,000 copies; if he charges $30, he expects to sell 8,000 copies. Calculate the elasticity of demand for this product between those two points. Is this demand elastic or inelastic?
Barron used to make $2,500 a month and eat sushi three times per month. Now he is making $3,500 a month and is eating sushi seven times per month. What is Barron's income elasticity of demand for sushi? For Barron, is sushi 1) a normal good or an inferior good, and 2) a necessity or a luxury?
How does an Edgeworth box work, and how do you solve for optimal allocation between two consumers? How do you derive marginal utilities for a consumer with preferences which result in perfect complement curves?
The Philadelphia Phillies defeated the Tampa Bay Rays 4 to 3 to win the 2008 major league baseball World Series. Earlier in the major league baseball playoffs, the Philadelphia Phillies defeated the Los Angeles Dodgers to win the National League Cham..
Each of the following events will result in either an import or export to be recorded in the current account or the capital account of Vidinland, an imaginary small country in eastern Europe. For each one, say whether it will be a current account imp..
If four containers are randomly selected what is the probability they are all underfilled.
Suppose the market price of the stock is $30 (different from the price that CAPM says it should be), what would you tell the investors about investing
Explain the forces that drove Mittal Steel to start expanding across national borders, including a history of Mittal Steel.
Determine the .95 confidence interval for the mean predicted when X = 7. b. Determine the .95 prediction interval for an individual predicted when X = 7.
What does Welfare Economics mean, and how does it apply to the allocation of resources, and its effects on today's society? Please explain in detail
Suppose that the demand curve for wheat is q = 100 - 10p and the supply curve is q = 10p. the government imposes a price support at p = 6 using a deficiency payment program. What is the quantity supplied, the price that clears the market, and the def..
You have made arrangements to borrow $1,000 now and another $1,000 three years from now (End of Yr 3). The obligation is to be repaid at the end of four years. If the projected interest rates in years one, two, three, and four are 10%, 12%, 12%, and ..
The securitization process reduces the total amount of credit risk embedded in the underlying mortgages, attract investors with different risk appetites, and give home buyers easier access to credit. Each time a new security is created during the sec..
A singly-linked list can be used to store large integers one digit at a time. For example, the integer 1234 could be stored in a list by storing 1 in the first.
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