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The price of a new model of iPod tends to fall significantly a year after it is first introduced. Suppose Jane bought an iPod as soon as it was introduced (a year ago) and paid a premium price for it. Now she wants to buy a new battery charger. Which of the following should she consider before buying the new accessory? The price she paid for her iPod, the price of the battery charger, and the benefit she'll receive from using the battery charger. The price of replacing her iPod, the price of the battery charger, and the benefit she'll receive from using the battery charger. The price of the battery charger and the benefit she'll receive from using the battery charger. The price of the battery charger had she bought it with the iPod, the current price of the battery charger, and the benefit she'll receive from using the battery charger.
A decrease in aggregate demand will cause
Your operations research staff estimates that the market price elasticity of demand is -2. The MC is constant at $150, and ATC at the current production rate is $225. If you compete against a large number of other firms all producing the same product..
Now suppose instead of consuming pizza, Ann and Bob are choosing how much clean air to consume. What will be the aggregate demand for clean air? Suppose the constant marginal cost of clean air is $6, if Ann and Bob individually choose how much clean ..
In April 1978, Fidel Castro announced that Cubans who wanted to leave Cuba for the United States could do so from the port of Mariel, Cuba. Within 6 month, about 125,000 (mainly) lowskill Cubans had flowed through Mariel for Miami, resulting in a sud..
What factors influence a firm's competitive strategies? How does global economic competition affect the price elasticity of demand in the domestic market and decisions r elated to the strategy a firm uses to compete? Why do most economists oppose tra..
Suppose David buys cheese (X) and fruit (Y) with his income of $48 per week. Suppose the price of cheese has recently risen from $4 to $6 per pounds, while the price of fruit has fallen from $8 to $6 per pound. Before the price changes, David had bee..
You are considering expanding your product line that currently consists of skateboards to include gas-powered skateboards, and you feel you can sell 9,000 of these per year for 10 years. What are the annual free cash flows associated with this projec..
If a monopolistic firm (price searcher) can sell 9 units at a price of $100 each but must reduce its price to $80 in order to sell 10 units, then
Suppose that the current (first) generation consists of 1 million people, half of whom are women. If the total fertility rate is 1.3 and the only way people die is of old age, how big will the fourth-generation (the great-grandchildren) be? How much ..
Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4.
A DOT is performing a benefit-cost analysis of a new highway using an analysis period of 40 years as part the required environmental impact assessment of the project. The section of highway is estimated to have a construction cost $260 million dollar..
Suppose an economy is characterized by the following equations: C= 520 + 0.6 Yd Yd = Y - T I = 500 G = 500 T = 400. Is this economy closed or open? Explain. Determine the following: 1) The equilibrium level of GDP(Y)
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