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In January of 2007 online movie rental service Netflix introduced a new feature to allow customers to watch movies and television series on their personal computers. Netflix competed with many video rental retailers, which added online rental services to their in-store rental services in response. How did online movie viewing influence the price elasticity of demand for in-store movie rentals?
The CEO has asked for your input into establishing budget timelines. briefly explain how you can use the concept of a budget calendar in describing reporting timelines to reply to the CEO?
At the beginning of the 20th century almost two out of every five working Americans worked in agriculture. Today this number has fallen to less than one in fifty. At the same time, the total value of agricultural production represents an ever smaller..
If the price of coffee increases, we get a positive rate of inflation, even if no other price rises. Is this really inflation? Explain.
Suppose that your employer offered you $4,000 in cash instead of health insurance coverage. Health insurance is excluded from state income taxes and federal income taxes. How different would this calculation look for a worker who earned $500,000 and ..
A firm is currently producing 80 units of output. At this level of output produced, P=150 and ATC=120. Also assume that MC=130 and MR is constant at all output levels and equal to 150. Is this firm making profits? If so, what are these profits? Is th..
Monopoly, monopolistic competition, pure competition, oligopoly. Give examples of these things also how do they impact markets, firms and you, as a consumer and/or as a business person.
What effects would each of the following have on aggregate demand or aggregate supply, other things equal? In each case use a diagram to show the expected effects on the equilibrium price level and the level of real output, assuming that the price le..
Discuss situations involving binding price ceiling and price floor. You can pick your examples from housing industry, health care industry, or from any other industry. Arrange the following four kinds of market on a continuum where one end will have ..
Indicate whether each of the following statements is possibly true or certainly false. The cost minimizing bundle for y = 50 is l=10 and k=40 if labor and capital cost the same, and is l=12 and k=37 when labor costs $20 and capital costs $15. Calcul..
q1. at a university faculty meeting in 2000 a proposal was made to increase the housing benefits for new faculty to
If the price elasticity of demand for a product is equal to 4, a 1 percent increase in price of the product will cause the quantity demanded to _____ by _____ percent.
In a market society, collective behavior determines the levels of incentives (or prices).' Explain, using diagram, the way in which prices are achieved in the market. In the diagram also show the consumer and producer surplus. Using the concept of co..
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