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Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. They then notice that they are selling approximately 15 percent fewer sodas. The price elasticity of demand for sodas from the campus vending machines, therefore is?
What is meant by the term skill differential? Does it lead to a reversal of compensating wage differentials? What is Statistical Discrimination? Explain how it can benefit some employees.
Consider a small country that exports steel. Assume that a "pro-trade" government deicdes to subsidize the export of steel by paying
Elasticity Using Linear Demand: Budget Line:
Discuss which economic theories or relationships you have studied up until now (not just in this class – in all your economics classes) that could be estimated using the multiple linear regression model. Explain your rationale. Provide examples to s..
Lisa is a self-employed physical therapist who works from a rented space. Lisa charges $250 for a therapy session. She incurred the following costs last month: space and equipment rental, $1400; wages, $3500; materials, $1800. If Lisa’s profit last m..
The U.S. economy has fallen into a recession. It is a severe and deep recession, and one that some economic analysts say may persist for at least another year.
For several months before your vacation trip to germany,you fiind out that the exchange rate for the peso has increased relative to the euro. are you pleased or saddened explain.
q1. research the current demand for a good or service of your choice. collect information that will affect the demand
How can cities be viewed as examples of economies of scale
UUEC5100 - Economics for Decision Makers - Demonstrate what happens to the equilibrium price and quantity in such a market if one firm introduces a new
What is the marginal gain in output from increasing the number of barbers from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal?
Suppose the total cost of producing 10,000 tennis balls is $30,000 and the fixed cost is $10,000. Assuming that the cost cures have the usual shape, is the dollar difference between the average total cost and the average variable cost greater when th..
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