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The demand curve for a product is given by =1,200-3 -0.1 where Pz = $300.
a. What is the own price elasticity of demand when Px = $140? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price below $140?
b. What is the own price elasticity of demand when Px = $240? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price above $240?
c. What is the cross-price elasticity of demand between good X and good Z when Px = $140? Are goods X and Z substitutes or complements?
Our recent recession seems to demonstrate again that expenditures and incomes depend on each other. If markets do not self-adjust, how can a decline in spending lead to a negative process that ruins an economy?
a. How much is Tony's wealth initially? b. How much is Tony's gross income per year? c. Is Tony's wealth increasing or decreasing? Why?
The cost of raw material, direct labor, energy, and other variable inputs is about $24000 monthly. Unfortunately, an estimate of Jackie Brown fixed costs
Suppose households hold $0.30 in currency for every $1 they have as demand deposits (checking accounts). Also, banks hold 20% of their deposits as reserves. If the Federal Reserve buys $10 of government bonds from banks, by how would would the follow..
q.part 1in 2011 company xyz had sales of 345620million net working profit subsequent to taxes of 10250 million and
1. The long run Phillips Curve is vertical which indicates
The future worth in year 10 of a geometric gradient series of cash flows was found to be $80,000. If the interest rate was 15% per year and the annual rate of increase was 9% per year, what was the cash flow amount in year 1?
Compare the firm's profits before and after it is divided into two profit centers. Damsung Company assembles television sets. The demand curve for its TV sets is given by P = 3,000 - 10Q, where Q is the number of TV sets sold and P is the price. Dams..
What is the critical value at the 5% level of significance of the F-test in the ANOVA table? Give your answer to 2 decimal places.
Explain what would happen to the earnings of the typical economics professor if there was a sudden increase in the demand for private-sector economists.
A laboratory centrifuge costs $80,660 and has a $5530 salvage value with an 8-year recovery period. The estimated annual operating cost is $7000 per year. Use the double declining balance method with switch over to straight line to determinate the bo..
What are the marginal benefit and marginal cost of abatement at socially efficient level of abatement? What is the net social benefit at the efficient level?
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