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If the price of a pack of cigarettes (including taxes) was $4 before the 2009 tax hike (see the News, p. 441),
a) What was the price after the tax hike?
b) What was the price elasticity of demand?
c) What was the (average) percentage increase in price?
What motivated the producers of all the individual products in the store to make them and offer them for sale How did the producers decide on the best combinations of resources to use Who made those resources available, and why How does the market..
Starting with the estimated demand function for Chevrolets given in Problem 2, assume that the average value of the independent variables changes to N=225 million, I =$12,000, P= $10,000 P= 100 cents, A=$250,000 and P=O
1. collect data for a countrys gdp on a quarterly basis.2. run a regression using some statistics or econometrics
Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many copies of Vista they like at the prevailing market price of $200.
what is the golden rule of profit maximization? explain why the rule maximizes profits. why are economic profits zero
A town in the middle-of-nowhere is built up around a large 100 meter hill. Since the hill is in the center of a town, it is proposed at a town-hall meeting that a water tower be placed at the top of the hill
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips curve.
Identify some complements and substitutes for the product
Assume your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing?
A monopolist supplies to a market with (inverse) demand given by D(Q) = 100 ? Q. The monopolist has constant marginal cost c = 2. Compute the monopolists profit-maximizing supply choice and the corresponding mark-up over marginal cost.
Write a 200 word paper or risk diversification as it relates to international capital flows for a MNC.Use a specific company and specific countries for your example as you explain why companies view this topic
q1. the following table shows data for the simple production function used. capital costs this firm 20 per unit and
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