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Per capita income in County A is $45,000. Per capita income in County B $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B. What is the arc income elasticity of demand for visits?
The market is in long-run equilibrium. What market structure best describes the pizza market in this town? Explain. What is average variable cost at this output level for each of the four shops? Explain how you derived this result.
You have just graduated from college and received a job offer from a local company as a project engineer. The job pays an annual base salary of $55,000, which is paid at the end of every year. In addition, the company offers you an immediate bonus of..
What factors determine the demand, say, for British pounds in foreign exchange markets? How are exchange rates determined under a flexible exchange rate system?
If you sell with a price that is above or below the optimum price, what happens with the consumer surplus? Does your response depend on whether it is perfect competition or perfect monopoly?
Marco borrowed $ 24,491 from a bank at an interest rate of 9 % compounded monthly to. The loan will be repaid in equal monthly instalments over 3 years. What is the remaining lump sum after 28 instalments?
when buying a car the seller suspects you have an ELASTIC demand
Why might firms consider issuing stock in foreign countries? Why might U.S. businesses look to issue more stock in Europe since the adoption of the euro (implemented in 1999)?
The risk premium it charges on its loans is classified as profits in economics.
At a market price of $50 a batch, illustrate what quantity does Lin's produce also what is the firm's economic profit in the short run.
A High End Department store has a replacement cost of $4,596,000. A fire caused $500,000 damage to the store's inventory. Find the amount the insurance company will pay if the store carried a policy with a face value of $3,500,000 and a coinsurance c..
A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restaurant has received rave reviews and has lines of diners waiting for tables most nights. In the short run (..
Both Dave and Caroline produce sweaters and socks. If Dave's opportunity cost of producing 1 sweater is 3 socks, and Caroline's opportunity cost of producing 1 sweater is 5 socks, then
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