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Market research indicates that you can sell 40000 tickets for the sundowns-Pirates clash at R10 each, or 30000 tickets at R20 each.which option would you choose?what is the price elasticity of the demand for tickets for this particular game?
A woman makes an investment every 3 months at a nominal annual interest rate of 28%, compounded quarterly. Her first investment was $100, followed by investments increasing $20 each 3 months.
Can all important information be conveyed in the standard length?
The Largo Publishing House uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 bo..
here are three modes of treatment: Mode A, B, and C; and three possible states of nature: 1. Treatment succeeds and patient leads a normal life, 2. Patient survives treatment but is permanently disabled, and 3. Patient fails to survive treatment. ..
A monopolist has two types of customers.There are 100 of type A, who will each pay up to $10 for a single unit of the good, and 50 of type B, who will each pay up to $8 Neither is willing to purchase additional units at any price. If it must charg..
how much are households paid for providing entrepreneurial ability? $ billion for entrepreneurial ability b. If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market.
A firms in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day, it cost would be $300, and if it produced 500 per day, its total cost would be $275.
Develop an attitude of professional skepticism
Moving along the demand curve, quantity demanded decreases 8 percent when price increases 10 percent .a. The price elasticity of demand is calculated to be. b. Given the price elasticity calculated in part a, demand is (elastic, inelastic, unitary e..
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day. Assume that the supply and demand curves for oil are linear. The current estimates of the price elasticity of supply and demand in the U.S..
A 12-year-old boy, while crossing a bridge over the defendant's trolley tracks, swung an 8-foot-long wire over the bridge. The wire touched the defendant's uninsulated trolley wire, which ran over the tracks of his trolley and beneath the bridge
a. What are the autarky price of shoes and the quantity produced b. What are the levels of domestic production, consumption, and imports if the world price is $10 c. How do your answers in part b change if this country were to impose a tariff of 3$
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