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Q. Pharmaceutical drugs have an inelastic demand, as well as computers have an elastic demand. Suppose that technological advance doubles the supply of both products (that is, the quantity supplied at each price is twice what it was).
a. What happens to the equilibrium price and quantity in each market?
b. Which product experiences a larger change in price?
c. Which product experiences a larger change in quantity?
d. What happens to total consumer spending on each product?
The Performance by Patrice (PbP) Company purchased a Centaur Computer controlled manufacturing milling machine for $635,000 for use in its rear end manufacturing operations on November 8, 2007.
Derive also graph the MC function. Conclude the cheapest way to produce 20 units. Conclude the cheapest way to produce 12 units.
Illustrate If G rises to 200 and T rises to 150. How much would the GDP change as a result.
Calculate the inventory value of the units unsold in the has well as of the consignee.
Elucidate why the equilibria found in part (a) are only short-run equilibria. What will happen in the long run.
If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?
what happen if Marlowe obtains 9 units of utility per dollar spent on apples and 6 units of utility per dollar spent on oranges, then Marlowe.
What price should a firm charge for a package of two pens given a marginal cost of t' 2 and an inverse demand function P = 6-2Q by the representative consumer?
If the company will sell the number of units obtained in part d and wants to maintain the same profit as last year, what will its new price have to be.
q1.project a will cost 2533000 and will return 1000000 at the end of 5 years and 4000000 at the end of 10 years.
What is the elasticity of its demand with respect to advertising? Now suppose the theater increases the number of its ads to 250. Should the theater increase its price following this ad campaign? Explain.
In the last few years, your company made a concerted effort to improve its minority hiring, so many of the new employees are minorities. How should you decide who to lay off?
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