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Suppose that the market price of new housing is $100,000 in Las Vegas, and local government officials modify regulations which increase the cost of building new homes. The higher costs cause supply to drop by 18 percent, the price elasticity of demand is 1.5 and the price elasticity of supply is if 3.0. The resulting equilibrium price of new housing in Las Vegas is:
A) $96,000
B) $98,000
C) $100,000
D) $104,000
E) None of the above
Suppose you are the marketing manager of a company. Why you would be interested to know whether the good that your company is producing has an elastic or inelastic demand curve in the market
Consider a monopolist where the market demand curve for the produce is given by P = 520 – 2Q. This monopolist has marginal costs that can be expressed as MC = 100 + 2Q and total costs that can be expressed as TC = 100Q + Q2 + 50.
over half of the nations lettuce comes from three california areas the imperial valley in the southeastern corner of
where X is his consumption of CDs with a price of $1 and Y is his consumption of movie videos, with a rental price of $2.He plans to spend $41 on both forms of entertainment. Determine the number of CDs and video rentals that will maximize Maurice"s ..
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
suppose the alternative that the open market desk does nothing different that is they hold the amount of reserves
1. suppose a perfectly competitive firm is faced with the following relationship between total cost and the quantity of
consider the table below for the neighboring nations of northland and west coast. the table lists the maximum feasible
A grocery store notices that the cross-price elasticity between ice cream and chocolate syrup is -.3. The store is advertising a sale with ice cream prices reduced by 20%. By how much should they expect chocolate syrup sales to increase?
At what sales/output level will marginal costs (MC) reach a minimum and estimate the value of TVC for sales/output level 250,000 units, and calculate the 95% confidence interval for your estimate.
Figuring out the optimal premiums to charge
a company makes widgets and has a fixed cost of 45000 per month and a variable cost of 45 per widget. if the selling
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