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Clulow Corporation recently changed the selling price of one of its products. Data concerning sales for comparable periods before and after the price change are presented below. Selling Price Unit Sales $34.00 7,800 $31.00 10,010 The product's variable cost is $10.50 per unit. The product's price elasticity of demand as defined in the text is closest to: -3.19 -2.02 -2.70 -4.13 PLEASE SHOW ALL WORK. THANKS.
Suppose that the adult population is 152 million, the number of unemployed is 19 million and the labor force participation rate 63%. What is the unemployment rate?
List the service that most likely to have network effects within 5 years. Google Fiber (providing GBit Internet access to homes) Purchase of Nest (maker of home thermostats and smoke detectors) Purchase of several robotics companies (Boston Dynamics,..
The 1st way is simply to utilize the price of the product in the exporter's home marketplace as the fair marketplace value.
Illustrate what are some examples of goods which the U.S. has comparative advantage in producing.
q.assume that each criminal i has the following utility function uibo-fo2 where onumber of crimes committed bper unit
In the following situation, the market is initially in equilibrium. After each event described below, does a surplus or a shortage exist at the original equilibrium price? What will happen to equilibrium price as a result? Draw your answer in GRAPH F..
Occupational segregation is more likely to explain the:
Let us discuss America's imperialist episode in 1898 when, almost point-blank it took four colonies. Was this an aberration or the beginning of a new trend? Can you think about our current times and find any similarities or parallels?
Discuss how government intervention promotes efficiency and equity in the economy. Be sure that you include restraint of trade, indirect costs, deregulation, and overregulation within your analysis.
A risk-neutral, price-taking firm must set output before it knows the market price. There is a 50 percent chance the market demand curve will be Qd = 10 - 2P and a 50 percent chance it will be Qd = 20 - 2P. The market supply cur–e is estimated to be ..
He plans to marry at about the end of year 6 and will skip the investment contibutions that year. How far below or above his $300,000 goal will he be?
Assume that the government places a 50 percent tax on widgets. Neither the demand for widgets or supply of widgets is perfectly elastic or inelastic. Draw a graph showing how the tax will affect the market. Where does the incidence of the tax lie? Ex..
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