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a. When demand is elastic, an increase in price causes quantity demanded to______________ and total revenue to__________.
b. When demand is inelastic, a decrease in price causes quantity demanded to ____________and total revenue to__________.
c. When demand is unitary elastic, an increase in price causes quantity demanded to ______________and total revenue to_____________.
d. If price falls and total revenue falls, demand must be___________.
e. If price rises and total revenue stays the same, demand must be____________.
f. If price rises and total revenue rises, demand must be____________.
Illustrate what price also quantity would prevail after the imposition of the tax
Allocative efficiency (where P = MC) is most likely to occur under which of the following type of market structures?
q.a firm that sells e-books books in digital form downloadable from the internet sells all e-books relating to
Briefly describe the changes in predominant health problems among Americans since good record keeping began in the 1800s.
Assume that a bundle of goods deemed representative of the cost of living as of Jan. 1, 1965 is valued as $100. Assume that a similar bundle of goods deemed representative of the cost of living as of Jan. 1, 2015 is $525. Using these bundles of goods..
The affordable care act (Obama Care) has specific guidelines. Does the law of the affordable care act require all insurance companies to mimick all 10 titles and all sections? If so, is there a specific time line when all insurance companies will all..
There is a loan for 5,00 dollars with interest of 8 % annually. There is another way to repay the 5,000 dollar by making 4 annual payments of 1,000. Then what would the 5th payment be?
Fred's Fashion Accessories of New Jersey produces jewelry for sale in Boston and New York subject.
Two consumers Jorge and Admen, together own 1,000 baseball cards and 5,000 Pokémon cards.
determine the amount at time 0(now) equivalent to the cost of owning and operating the machine for the next five year period. It is anticipated that the machine can be sold for $1000 at the end of the five year period. Use an interest rate of 10%.
The CPI for 2009 was 195 but i know that the imfataion rate couldn't habe been as high as95% in 2005". In your answer carefully explain what the value of CPI means.
A firm's cost function is TCi = a + bqi + c qi2, where a, b and c are positive constants a. Find its marginal cost function, and show that MC is increasing for all q. b. Find its average total cost function. Now, prove that at the quantity that minim..
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