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Q1. The price of a firm's product increases from $5 to $6. As a result, the quantity demanded of the product declines from 600,000 to 500,000. The price elasticity of demand for the good is equal to
Q2. A Los Angeles firm uses a single input to produce a recreational commodity according to a production function f(x) = 4√x, where x is the number of units of input. The commodity sells for $100 per unit. The input costs $50 per unit.
Find profit maximizing amount of output. Show all working.
Determine the new equilibrium price and quantity and how much tax revenue does the government earn with $6 tax.
If income rises from 1000 to 1800 and consumption rises from 1100 to 1700 the marginal propensity to save.
What is the value of net domestic product (NDP)? What is the value of national income (NI).
The two economies are so far apart that they don't share ideas and each evolves as a separate roomer economy.
Has the United States become more or less economically free during the past decade? What impact will this have on the future economic growth of the United States.
You can suppose any single peaked preference which you want and Characterize the equilibria of the model.
How do prices, output, and profits differ between monopolies and monopolistically competitive firms.
How much Wyandotte have to decrease the price of polyol to attain a 15% increase in the quantity sold.
Explicate which among the policies is most effective and least effective for this nation.
What is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending, interest rates.
A company's cash sales for the month are $200,000 and its accounts receivable payments for the month are $100,000. What is its total incoming cash flow.
Discuss the importance of a well-developed compensation plan in attracting as well as retaining good employees as well as how to keep those plans from "working too well."
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