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Not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to the fact there were immutable facts about economics and one of the standards is price elasticity, unfortunately some dwell on the potential still. Those early days of e-books held the much promise for such a short time. E-goods are returning to the price levels which we thought they had left behind, again the inevitable price elasticity. The question I have is this.
why is it so certain that price elasticity will cause those prices to return to levels they were at instead of staying lower based on the new technology?
Let us assume that an economy in which there is no widely agreed upon form of money. In other words, suppose we are dealing with a barter economy.
What specific standard is applied to a firm whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions?
Describe the difference between average revenue and marginal revenue .why are both of these revenue measures important to a profit-maximizing firm?
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
The information technology field is very competitive, and a large information technology company has employed the bank for guidance. companies may have to compete for high quality IT professionals.
California's newly deregulated power market start operation. The large power utilities in state turned over control of their electric transmission amenities to the new Independent System Operator (ISO) to promise fair access to transmission through a..
In the summer of 1997, Congress and president agreed on budget package to balance the federal budget. The contract," signed into law by President Clinton in August as the Taxpayer Relief Act of 1997,
Textbook publishers have traditionally manufactured both United States and international editions of most leading textbooks. The United States version typically sells at a higher value than international edition.
You have been employed to manage a small manufacturing facility which has cost and production data given in the table listed below.
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Explain why a customer who select a consumption bundle in which relative price exceeds the marginal rate of substitution can not be at an optimum.
A television station is planning the sale of promotional dvds. It can have dvds manufactured by one of two suppliers. Supplier A will charge the station a set up fees of $1200 plus $2 for each dvds;
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