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Suppose the own price elasticity of market demand for retail gasoline is -0.8, the Rothschild index is 0.7, and a typical gasoline retailer enjoys sales of $1,900,000 annually. What is the price elasticity of demand for a representative gasoline retailer's product?
What combination of the two goods below allows you to maximize your utility with a budget constraint of $14? Show how you arrived at your conclusion in the space provided below. Place your final answers on the lines at the bottom of this page. ..
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.
How much cloth and food will the economy produce after this increase in its capital supply? Describe how the allocation of machine-hours and work-hours between the cloth and food sectors changes. Do those changes conform with the changes described ..
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Solve the following linear programming model graphically. In addition, write the problem in standard form and do a constraint analysis for the optimal solution. Minimize 10x + 15y Subject to 5x + 2y ? 40 x + 2y 0
The Present value of the following 2 cash flows are equivalent if the interest rate is i. Which one is more valuable if the interest rate is 2i? P=F(1+i)^-n Option 1 = 3 periods Option 2 = 2 periods.
Provide three examples of operating firm formed as, sole proprietorship, partnership and corporation. Describe how you decided on categorizing them.
The intensive development effort needed to expedite the introduction can be very expensive. Revenues and costs associated with the new product
What is the income elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? What is the cross-price elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? Are kitty litter and cat food substitutes or complements?
Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspec..
A Taiwan electronics corporation exports personal computers to the United States Their PC sales over the past five years are following:
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