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Question
A monopolistically competitive restaurant sells 5 fondue dinners per week when the price is $59 per unit. In order to increase their sales by one unit per week, the restaurant had to reduce the price to $53 per unit. Given this information, what is the marginal revenue of the last fondue dinner sold?
The probability of making exactly four sales. b. The probability of making no sales. c. The probability of making exactly two sales. d. The mean number of sales
The company is short of cash and expects to be short for several months. The treasurer has said that he could pay for the equipment as follows:
What would be your annual payment so that you repay in 25 years the total mortgage loan that you obtain from the bank today?
What is the equilibrium price? If supply at every price is increased by 10 gallons, what will the new equilibrium price be?
Suppose that when household income in a city rises by 2%, and the price of good X remains unchanged, the quantity demanded of good X decreases by 15%. Then, in this city, the income elasticity of demand for good X is (7.50, -7.50, -0.13, 0.13) , and ..
Assume that GDP in the United States was 21.5T in 2019. Use "2019 dollars" for all answers/years.
In the context of the economic theory of resource economics, what is a steady state? What role does it play in the analysis of the optimal management
Studies indicate that the price elasticity of demand for cigarettes is about 0.4. if a pack of cigarettes currently costs $2 and the government wants to reduce smoking by 20%, by how much should it increase the price?
Third Degree price discrimination: Assume P1=200-4Q1; P2=100-Q2 and MC=20+0.4Q. Solve for the profit maximizing outputs and prices in each market.
Explain the Condorcet Paradox and Arrow's Impossibility Theorem. Provide examples.
a) Factor and find the vertex form x^2 +6x + 8 b) Factor the h value of of the vertex of 2x^2 - 10x - 30 c) Find the x-intercept and y-intercept of 5x - 4y=30
Aerotron Electronics is considering purchasing a water filtration system to assist in circuit board manufacturing. The system costs $42,000. It has an expected life of 7 years at which time its salvage value will be $8,500. Operating and maintenance ..
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