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The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases its price to $63, what should be the quantity sold? Will the revenue increase? Why?
complete the following tablenumber of workerstotal outputtotal productmarginal product of laboraverage product of
consider a monopolist with the following demand function q 60 - 0.667pa. graph the demand and mr lines. what is
A state government is considering construction of a flood control dike having a life span of nine years. History indicates that a flood occurs every three years, on average, and causes $400,000 in damages on each occasion. If the state uses a MARR of..
describe john maynard keynes contribution to the theories of macroeconomics. why was he such an important economist?
International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries. There are also various arguments in favor ..
w. edwards deming often referred to as the leading quality guru in the united states and psychologist alfie kohn
i.a. what is gross domestic product gdp and what is the use of it?b. comment on how well this measure serves its
How the Federal Reserve is organized and the Fed's major policy tools.
These multiple choice questions are relates to Economics. The first question is about productive efficiency and the second question is about the characteristics of monopoly market.
Fit-To-A-Tee, a "price-taking" T-Shirt design shop, has a schedule of total fixed costs, total variable costs, total costs and marginal cost
You have been contracted by an economic consulting company to estimate the economic structure and possible future actions of OPEC, Organization of Petroleum Exporting nations.
Identify the market structure in which organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.
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