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Select an organization that interests you. State the nature of this interest in your memo . It can be a publicly owned company, a non-profit organization, or government agency. Refrain from using private companies because publicly available information about them can be limited.
Conduct an analysis of the demand for the organization's product(s) and/or service(s) by:
Discussing the source of your numerical price and other data
Discussing your approach to estimating demand
Computing and interpreting at least one elasticity measure. Place the details of your computations in an appendix.
In your memo, state why you believe that the organization should meet the increased demand or why it should scale back production and thus supply in anticipation of lower demand.
If the cost of producing Newton’s Donuts is constant at $0.15 per donut, should they reduce the price and thereafter, sell more donuts (assuming profit maximization is the company’s goal)?
The U.S. government administers two programs that affect the market for cigarettes. Media campaigns and labeling requirements are aimed at making the public aware of the dangers of cigarette smoking
What is the shutdown point? Give an example. How is the short-run defined in the production process? Please provide references if applicable.
Current concerns stem from the fear that if medicare remains an open ended program, its share of the federal budge will continue to increase over time. Prepare a brief memo examining "a freeze in physicians' fees and a requirement of mandatory ass..
Felix Jones, a recent engineering graduate, expects a starting salary of $ 65,000 per year. His future employer has averaged 5% per year in salary increases for the last several years.
Employ the information in the above table to compute th average product (AP) and marginal product (MP). At the production level of 200,000 chips, is the company's average variable cost decreasing, at a minimum or increasing?
Environmental Protection Agency regulations tend to go by several stages of review and approval before they are implemented.
Automobile manufacturers produce a range of automobiles such as sports utility vehicles, luxury sedans, pickup trucks and compact cars. What fundamental econom- ic question are they addressing by making this range of products
1.what is opportunity cost? explain with the help of an example why assumption of constant opportunity cost is very
Suppose a consumer’s preferences can be represented by the utility function U(X,Y) = Min (2X,Y). Also, suppose the consumer has $300 to spend and the price of Good X is PX = $3 and the price of Good Y is PY = $1.
What is Hans' marginal rate of substitution of C for F when utility is maximized? (To be clear, we mean the value of F in terms of C). Explain.
You observe an Olympic Athlete in the long-jump. Suppose the distance of each jump is a random variable that follows a normal distribution with mean and variance2. He jumps 8 times and records the following distances.
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