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Suppose the number of firms you compete with has recently increased. You estimated that as a result of the increased competition, the demand elasticity has increased from -2 to -3, i.e., you face more elastic demand. You are currently charging $10 for your product. If demand elasticity is -3, you should charge [x].
A substitute good is a determinant of supply. Government actions, such as price floors and ceilings, can actually reduce employment and raise market inefficiency. In the circular flow model, firms own economic resources, and households buy the manufa..
Access the SBA Web site to read about the various components of a business plan. (This is the same link from your warm-up activity.)
Suppose that annualized interest rates on 3 month CD’s in the U. S. are .375 % while in the Australia annualized interest rates on 3 month deposits are 1.10%. What must currency traders expect to happen to the exchange rate of the US $ in terms of th..
A market is served by a dominant firm and many smaller firms. These smaller firms act as price takers. Market demand is given by: Q = 1,000 - 17P The combined supply of the smaller firms is Q = 21 + 30P. The dominant firm's marginal cost is MC = 7 + ..
a) What is meant by diminishing returns of an input? b) Does it always occur in the short run? Discuss.
analyze the graphs and briefly describe the similarities and differences between the short and long run operation of each business
Illustrate what will be the consumer consumption of gasoline now and how much will be the amount of rebate.
Suppose that Italy and Germany both produce fish and wine. Italy's opportunity cost of producing a bottle of wine is 4 pounds of fish while Germany's opportunity cost of producing a bottle of wine is 9 pounds of fish. By comparing the opportunity cos..
If many firms enter the computer software industry and bid up the price of programmers, then Select one: a. the long-run industry supply curve will slope down. b. the SRATC will shift down. c. the long-run industry supply curve will slope up. d. The ..
show the impact of your deposit on the bank's assets and liabilities. If the required reserve ratio is 10 percent, illustrate what is the maximum amount the bank can loan from this deposit.
Parker Hannifin benefitted when the Federal Reserve slashed the federal funds rate to near-zero levels in 2008. Lower interest rates increased demand for its machinery components, which would allow Parker Hannifin to ________ employment and ________ ..
Indicate whether each of the following statements is possibly true or certainly false. The cost minimizing bundle for y = 50 is l=10 and k=40 if labor and capital cost the same, and is l=12 and k=37 when labor costs $20 and capital costs $15. Calcul..
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