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The manager of a car wash in Washington charges Alabama residents $10. The manager believes that the price elasticity of demand of Alabamans is -1.5. The manager is considering offering senior citizen discounts. How much should the manager charge if the price elasticity of demand of senior citizens is -3?
If a firm had decreasing returns to scale and at all levels of output and it divided up into 2 equal- size smaller firms, what would happen to its overall profits?
Suppose venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import?
Why is the money multiplier in the United States smaller than the inverse of the required reserve ratio? Provide one (1) reason. Explain why depositing cash into a checking account does not change the money supply. Provide at least one (1) supporting..
Describe the macroeconomic and microeconomic concepts and how they relate to the management of a global organization.
A farm operator has asked you to help him/her determine the quantity of water that should be applied to a crop under irrigation.
Use a chain reaction to explain the impact of a reduction in the budget surplus on GDP (use a complete chain reaction). Is this an example of expansionary or restrictive fiscal policy?
What are the costs of inflation? Which of three costs do you think are most important for the U.S. economy?
Boeing believes there is a 50% chance that either government will grant the subsidy, and that the subsidy decision will be made simultaneously and independently, with no collusion between governments. Boeing must invest in the project before they ..
What is the probability that a plan recipientd ies before they reach the standard retirement age of 65?
A corporate bond rated AAA with the same time to maturity as bond Y that trades in a more liquid market than bonds W, X, or Y List the bonds in the most likely order of the interest rates (yields to maturity) of the bonds from highest to lowest.
Does LRMC =MR for Competition? Does LRMC =MR for Monop. Competition? Does LRMC =MR for Oligopoly? Does LRMC =MR for Monopoly? Does P=AC for Competition?
Assume that all states adopt a serious no-fault rule to cover automobile accidents, so that it becomes impossible to sue for damages after an accident.
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