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Abc Inc. sells bike tires for $25. It's sales have averaged 8,000 units per month. Recently its closes competitor Efg Inc. reduced their price for bike tires form $35 to $30. A result Abc's sales declined by 1.500 units per month.A. what is the arc cross elasticity of demand between Abc Inc. and Efg Inc. ? qhat does this indicate about the relationship between the two?B. If Abc knows that the arc price elasticity of demand is for its bike tires is -1.5, what price would Abc Inc. have to charge to sell the same number of units as it did before the Efg Inc. price cut?C. What is Abc Inc.'s average monthly revenue from the sale of bike tires before e and after the price change determined in part B.?D. Is the result in part C. necessarily desirable? What other factors would have to be taken into consideration?
Simple linear regression predicting the change in performance (in seconds taken to run a race) for 800m runners by the average hours of training undertaken per week during the pre-season.
Suppose that natural real output in the country of Eudemonia grows at a steady rate of 3 percent per year. In the past, velocity has been approximately constant, and the Eudemonian Central Bank (ECB) has maintained a target rea..
The information in the table given below are the results of a random sample of current home sales in your neighborhood that your boss has asked you to use to estimate relationship in selling price of house and number of square feet in it.
A firm has Total Costs (TC) of $10,000 over the next three months (TOTAL for the 3 months - not per month), of which $6,000 are fixed costs (TFC) for rent on its lease that cannot be broken. If it stays in business over those months, then the firm..
You are attending the yearly shareholder's meeting of PIC firm. A fellow stockholder points out that manager of PIC received $100,000 last year, while the manager of a rival company, CUP Enterprises, earned only $50,000.
I have a time series set of data of workers in motor vehicle industry from 1972-2001 as well as average weekly hours of workers in motor vehicle industry
Suppose the second equation is changed to I = 500. What is the new equilibrium level of income? How much does the $100 increase in investment change equilibrium GDP?
The mean gross annual incomes of certified welders are normally distributed with the mean of $23,577 and a standard deviation of $2,358. The ship building association wishes to find out whether their welders earn more or less than $23,577 annually..
Jim's utility function is U(x, y) = xy. Jerry's utility function is U(x, y) = 1,000xy + 2,000. Tammy's utility function is U(x, y) = xy(1 - xy). Oral's utility function is U(x,y)= -1/(10+2xy).Marjoe's utility function is U(x, y) = x(y + 1,000). Pa..
In a country, output is produced with labor and physical capital. The production function in per-worker terms is y=k^1/2. The depreciation rate is 2%. The investment rate (&) is determined as follows: &=0.2 if y
A future amount of $150,000 is to be accumulated through annual payments, A, over 20 years. The last payment of A occurs simultaneously with the future amount at EOY 20. If the interest rate is 9% per year, What is the value of A?
The short-run aggregate supply curve (SRAS) can be written as follows: Y = Yf b (p - pe), where Y = real GDP, Yf = full-employment real GDP, p = price level, pe = expected price level, and b is a positive coefficient. The SRAS can be re-written as..
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