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The supply and demand schedules for tickets to basketball games in town of Oakwood are given in the table below. Price Quantity Demanded Quantity Supplied $6 5,000 2,000 7 4,000 2,000 8 3,000 2,000 9 2,000 2,000 10 1,000 2,000 The stadium owners need to find the optimum price for the games. What are the coefficients of elasticity of supply and demand if the price is raised from $6 to $8? Characterize the demand and supply for tickets based on the calculated elasticies. What is the optimum price that the stadium owners can set for the tickets? Why is the selected price for the tickets better than other prices given in the table above?
For an interest rate of 12% and a lifetime of 10 years, which proposal should be selected and calculate your answer in three ways
Assume that both magazines are owned by the same publishing company that maximizes the combined profits of the magazines. Will the company make the same choice as in the noncooperative game (i.e., owned by different publishing companies)?
The marginal revenue is $3.00. What is the short-run and long-run condition for the monopolist and what output changes would you recommend?
For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output?
according to the federal reserves federal open market committee 2011 the federal reserve controls the three tools of
What are the necessary conditions for positive equilibrium prices and quantities? (b) What is the economic interpretation of the parameter "f"? (c) What will be effect (increase or decrease) of an increase in exogenous income on P*, the equilibrium p..
the global business environment has intensified pressure for companies to utilize their resources in new ways. one
consider the following cobb-douglas production function for the bus transportation system in a particular cityq alb1
Create and explain a production possibilities frontier for an economy that produces milk and cookies. Determine what happens to this frontier if disease kills half of the economy's cow population?
Describing how currency exchange rates are determined in markets.
What near monopoly was broken up by profound technological change in the industry rather than active government efforts using antitrust laws. American Cigar Company IBM& mainframe computers Verizon & phone service Microsoft and operating software.
economists often study and evaluate economic policies by country or region. as an economist evaluate different regional
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