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The relationship between Price elasticity of demand and Marginal Revenue can be shown to be:
MR = P 1 − [(1/ |e|)]
There are two types of customers that come to the Barnegat Fish Company to have their signature crab cakes: An affluent group with a price elasticity of demand for crab cakes of e = −2; and a less wealthy type with a price elasticity of demand for crab cakes of e = −5. The restaurant wants to introduce a coupon to encourage more people to visit their restaurant. Thus every buyer pays the posted price of $P per crab cake but those who tender the coupon get a discount of $X off the posted price. If the Marginal Cost of a crab cake is $2.00, what is the price of the crab cake and what is the value of the coupon?(Set MR=MC).
Which nation should specialize in which product. Explain how trading possibilities lines for each nation if actual terms of trade are 1 plum for 2 apples.
The current inflation rate in Iran is roughly 23% per year (because of economic mismanagement and UN sanctions). How should a prudent Iranian invest a large sum of rials today to preserve/grow its future value?
Suppose that you were an industry analyst trying to determine if the leading firms in the automobile manufacturing industry are playing a tit-for-tat pricing game. What real world data would you want to examine? What would you consider to be evidence..
q1. the simple is-lm model predicts which cutting the governments budget deficit will reduce output in the short-run.
What is the economic justification for zoning laws, which restrict the private property owner’s right to do what he or she wants with his or her property?
Resizing them as necessary, to illustrate your analysis. In each case, Illustrate what are the short-run and long-run effects on the aggregate price level and aggregate output.
q1. 1. what value enhancers affected your choice of the school you attend?2. did you consider size location price
Calculate the equilibrium buyers' also sellers' price with no sales tax also then with the 20% tax Supposed above.
A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office was at least nine years. A survey of companies reported in the Wall Street Journal found a sample mean tenure time of 7.27 years with a standard de..
The federal government provides a number of subsidies to the oil and gas industries. In defence of the subsidies, a spokesman for the industry observed “some alleged subsidies don’t even go to the industry.”
q. 1. what is a business organization?2. what is the most common form of business organization?3. define sole
The Cost of a Flower Business. Jen left a job paying $60,000 per year to start her own florist shop in a building she owns. The market value of the building is $80,000. She pays $40,000 per year for flowers and other supplies
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