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Suppose a firm adopts technology that allows its output to increase by 15%. If the price elasticity of demand for this product is -3, how should price be adjusted in order to sell all of its output? (For example, should price be raised or lowered, and by what percent?)
Alice and Betsy are playing a game in which each can play either of two strategies, leave or stay. If both play the strategy leave, then each gets a payoff of $300. If both play the strategy stay, then each gets a payoff of $600. If one plays stay an..
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. Illustrate what are the economic effects of the price ceiling?
Crusty Cakes sells donuts in Eastown and Westown. Its total costs are given by TC = 10(Qe+Qw). The demand in each neighbourhood is given by Qe = 100 - 2Pe and Qw = 100 - Pw. If Crusty price discriminates between the two neighbourhoods, how much are i..
Your text raises the notion of a "representative bureaucracy." Presumably at its heart this means that the people fleshing out the bureaucracy would have demographic characteristics of the general population.
Find five credible sources that support your position on the topic you have chosen in Project Part 1. 2. Then, list these sources in APA format. 3. After each citation, include four short paragraphs about each source. 4. Include an APA title page and..
Real GDP unemployment rate hypothesis. The correlation coefficient between the real GDP growth rate and the change in the unemployment rate
There are many individuals involved in designing and implementing workflow projects. Describe how and why the business subject matter expert
Which of the following best describes the position of the U.S. budget, as of fiscal year 2010, when all current spending and future entitlement obligations are taken into account?
The marketing manager for Mountain Mist soda needs to decide how many TV spots and magazine ads to run during the next quarter. Each TV spot costs $5000 and is expected to increase sales by 300,000 cans. Each magazine ad costs $2,000 and is expected ..
Frisbees are produced according to the production function: q= 2K + L where q=output K=capital input per hour L=labor input per hour a) If K=10, how much L is needed to produce 100 Frisbees per hour? What is the RTS along this isoquant? Explain why t..
Let demand for car batteries be such that Q = 100 − 2P. Assume constant marginal costs of 25. Compute the equilibrium price, quantity, consumer surplus, producer surplus and if relevant deadweight loss for: You should explain your work and define all..
From your perspective, how would suggest managing resources to limit the effects of the resource curse? If you were to conduct a Cost-Benefit Analysis of an open pit mine, other than accounting costs (construction, labor, operations and maintenance),..
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